By The Weekly Edge desk ·
CasinoBeats reported that Betfred plans to eliminate 600 jobs and close 132 UK shops. The operator attributed the reductions to higher gambling taxes and other cost increases.
The planned closures and redundancies shrink Betfred’s UK retail operation.
Request a correction / right of reply
Linked through shared companies, regulators and people, or one step further through the graph.
The request concerns tax rates affecting betting shops and other businesses with category B machines.
Betfred’s £995.6m annual turnover gives investors financial context following its warning about retail betting’s future.
Retail supplied £544m of Betfred’s £995.6m turnover despite a declining shop estate, highlighting its contribution for investors.
The 4% reduction in betting shops reduces Betfred's retail footprint as it incorporates UK tax increases into forecasts.
UK Tote’s leadership transition retains outgoing chief executive Alex Frost as an executive director before a non-executive role.
Done Brothers faces an independent compliance audit alongside its penalty and warning for safer gambling and anti-money laundering breaches.