Betfred has made the decision to close 132 of its betting shops in the UK and eliminate over 600 jobs starting in September. This announcement, first revealed by Sky News on Friday, comes in the wake of a consultation regarding the future of the company’s retail operations, heavily influenced by the rise in Remote Gaming Duty in April of this year.
Looking ahead, another increase in the UK's remote betting tax is expected in 2027; however, this change will not directly affect retail betting operations.
Jo Whittaker, Betfred's CEO, expressed deep regret in a statement 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."
Whittaker acknowledged that the decision to close these locations is particularly difficult, saying, "These are well-run shops, staffed by dedicated colleagues, and 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."
This wave of closures is primarily a consequence of tax increases outlined in the UK’s autumn budget last year, which included a significant hike in the remote gaming duty and an online sports betting levy that is to be implemented in 2027. Following this restructuring, Betfred aims to maintain approximately 1,100 outlets throughout the country and has begun consultations with employees affected by the closures.
Betfred is not alone in this move, as Entain, the parent company of Ladbrokes and Coral, announced similar closures in Ireland back in April, shuttering 39 of its nearly 100 Ladbrokes shops, resulting in 226 job losses. Additionally, Entain projected further job cuts with expectations of 500 positions eliminated globally, predominantly affecting operational teams. A spokesperson for Entain clarified at that time that these changes were part of a long-term cost optimization strategy, rather than directly linked to the tax hike.
In contrast, Evoke, which owns William Hill, confirmed that their decision to close 200 shops in April was directly driven by the recent tax increase. A spokesperson indicated that this closure followed a comprehensive review and cited significant financial pressures from the government’s increased tax requirements as the reason for these unsustainable locations.
