Betfred is set to shut down 132 betting shops across the UK and cut over 600 jobs starting in September. This decision, confirmed by the company's CEO Jo Whittaker, follows a review of its stores and is primarily influenced by the Remote Gaming Duty increase that took effect in April.
An additional hike in the UK's remote betting tax is anticipated for 2027, though it will not impact retail betting venues directly.
In a statement provided to iGB, Whittaker expressed regret over the closures, saying, "It is with deep regret that we have today started a consultation with colleagues working in more than 130 of our shops regarding a proposal to close those locations. We have tried hard to protect all our sites and the colleagues who work in them, but the combined impact of higher employer National Insurance contributions, wage inflation, increases in gambling taxes and wider economic uncertainty has left us with no choice."
He noted the well-managed nature of the shops and the dedication of their staff, adding, "It is incredibly hard to see any of them close, but the current fiscal and regulatory environment has made it impossible to keep trading all our shops. Our priority now is to support the colleagues affected, and to continue serving customers and communities across the rest of our estate."
The closures are largely attributed to tax increases from the UK’s autumn budget last year, which included a significant rise in remote gaming duty and a new online sports betting levy kicking in from 2027. After these cuts, Betfred will still operate around 1,100 locations nationwide.
Entain, the parent company of Ladbrokes and Coral, has also disclosed shop closures in Ireland, closing 39 of its approximately 100 Ladbrokes outlets there, resulting in 226 job losses. In July, Entain announced additional global job cuts, estimating a reduction of around 500 roles mainly in operational capacities. Despite these changes, Entain stated they were part of a long-term strategy for cost optimization, not a direct response to the tax hike.
Conversely, Evoke, the parent company of William Hill, indicated that their decision to close 200 shops in April was directly linked to the government's tax increases, saying, "Following a thorough review and further to increased cost pressures on the regulated sector including significant tax increases announced by the government in last year’s autumn budget, from May we are closing a number of shops that are no longer sustainable."
