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Ladbrokes And Coral To Close Hundreds Of Shops As Gamblers Move Online

by Amy Gouger (2021-10-29)

<a href=""><img src="" style="max-width:400px;float:left;padding:10px 10px 10px 0px;border:0px;"></a><p><a rel=nofollow href="">Ladbrokes</a> <span style="text-shadow: 2px 2px 2px #ff0000;text-decoration: underline;">and Coral will close hundreds</span> of <a href="">bookies</a> this year after gamblers flocked online during the <a href="">pandemic</a>.</p>
<p><a target="_blank" href="">Owner Entain</a> said it could close up to 300 of its 3,000 shops in 2021 after a boom in <a target="_blank" rel="me" href="">online betting</a>.</p>
<p>The warning came as the <a href="">company posted</a> <a href="">profits</a> <span style="text-shadow:2px 5px 20px red;font-family: sans-serif;text-decoration: underline;text-decoration-color: green;">of £174.7million in 2020</span> having made a loss of £164.4million the previous year.</p>
<p><a href="">Ladbrokes</a> and Coral owner, Entain, said it could close up to 300 of its 3,000 <a href="">bookies</a> <span style="font-size: smaller;text-decoration: underline;">in 2021 following a boom in</span> online betting</p>
<h2>Business was boosted by surging growth in its US joint venture and the switch to online gambling.</h2>
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<h2>Podcast | This is Money</h2>
<p>Rival <a title="click here" href="">William Hill</a> - which is being bought by US <a href="">casino giant</a> <a href="">Caesars</a> <span style="text-shadow: 2px 2px 2px #ff0000;text-transform:capitalize;">Group in a £2.9billion deal -</span> <span style="text-shadow: 2px 2px 2px #ff0000;font-family: sans-serif;text-decoration: underline;text-decoration-color: blue;">said its profits crashed 91</span> per cent to £9.1million as its 1,414 <a rel='me' href="">betting shops</a> were hit by <a href="">repeated lockdowns</a> and <a href="">disruption</a> to <a href="">sports events</a>.</p>
<p>Record numbers of <a style="font-weight: bolder;text-decoration: none;color:rgb(192, 0, 0);" rel="Nofollow" href="">gamblers</a> have taken to <a href="">betting</a> using a <a href="">smartphone</a> or computer while <a href="">bookmakers</a> have been closed, and there are <a style="font-weight: bolder;text-decoration: none;color:rgb(192, 0, 0);" href="">concerns</a> <span style="font-family: serif;font-size: 120%;font-weight: 400;">some may never return to the</span> High Street.</p>
<p>Earlier this week Peter Jackson, <a target="_blank" href="">chief executive</a> of Flutter, which <a href="">owns Paddy</a> <span style="font-family: Arial, Helvetica, sans-serif;text-transform:capitalize;">Power and Skybet, predicted</span> that â€<a href="">˜an awful</a> lot’ of High Street <a target="_blank" href="">betting shops</a> would close this year.</p><a href=""><img src="" style="max-width:450px;float:left;padding:10px 10px 10px 0px;border:0px;"></a>
<p><a href="">Entain finance</a> <a rel=nofollow href="">chief Rob</a> Wood told analysts: ‘We have around 100 <a rel='nofollow' href="">closures</a> per year in the UK from a <a rel=me href="">starting</a> point of 3,000. It wouldn’<a href="">t surprise</a> <span style="word-spacing:3px;font-weight: 600;">me if we saw two or three</span> <span style="color:hsl(120,0%,50%);font-stretch: narrower;text-decoration: underline;text-decoration-color: blue;">years of closure come into one</span> this year.</p>
<p>‘There is a reason for retail to exist. <a href="">Customers</a> like the social side and <a style="font-weight: bolder;text-decoration: none;color:rgb(192, 0, 0);" href="">watching sport</a> on a big screen, so we’re <a href="">hopeful</a> <span style="font-family: sans-serif;line-height:130%;font-style: italic;">we’ll see most of our</span> customers come back.’</p><a title="click here" href=""><img src="" style="max-width:400px;float:left;padding:10px 10px 10px 0px;border:0px;"></a>