As tax hikes and red tape takes their troll
Ladbrokes to shutter 50 high street betting shops
(UK).- Ladbrokes, Britain’s second largest bookmaker, is set to announce the closure of approximately 50 betting shops. Apparently, some of its 2,200 high street sites are no longer deemed viable.
2015-02-24
Reading time 30 seg
(UK).- Ladbrokes, Britain’s second largest bookmaker, is set to announce the closure of approximately 50 betting shops. Apparently, some of its 2,200 high street sites are no longer deemed viable.
The big three chains — William Hill, Ladbrokes and Coral — have already announced more than 200 shop closures between them over the past year due to an industry clampdown.
Richard Glynn, Ladbrokes’ outgoing chief executive, is likely to announce the closures alongside the annual results on Thursday. Analysts at Morgan Stanley forecast a 6% rise in sales to £1.2bn but a 7% drop in earnings before interest and tax to £129m.
Bookmakers have come under attack from politicians from every main partu over the proliferation of betting shops on the high street and the rise of fixed odds betting terminals.
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