Betfred to Cut 600 Jobs and Close 132 Shops Due to UK Tax Increases
UK gambling company Betfred has confirmed that it will cut 600 jobs and close 132 shops across the country.
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UK gambling company Betfred has confirmed that it will cut 600 jobs and close 132 shops across the country.
Front-of-shirt sponsorship deals between gambling companies and sports clubs continue in the United Kingdom, with Coral, a licensed local operator, teaming up with Championship club Birmingham City for the 2026-27 season.
Entain will cut 500 positions across its operations as the London-listed gambling group seeks to reduce costs amid higher UK online gaming taxes and increasing competition from prediction markets.
Entain has urged UK clubs, leagues and governing bodies to end sponsorship agreements with gambling operators not licensed by the Gambling Commission, instead of waiting for legislation following a Department for Culture, Media and Sport consultation.
Entain has confirmed that it is preparing to slash some 500 jobs under an initiative led by the company’s new chief financial officer, Michael Snape.
According to some industry insiders, London-listed company Entain, which owns brands such as BetMGM and Ladbrokes, is considering expanding its presence in Central and Eastern Europe.
Entain is reportedly assessing strategic options for its Central and Eastern Europe joint venture, including a possible sale.
Entain plc has appointed Sheila Bangalore as an independent non-executive director with immediate effect.
Entain has urged the Independent Football Regulator to prevent English football clubs from accepting sponsorship and advertising income from gambling operators that are not licensed in the UK.
Entain’s Australian brands Ladbrokes AU and Neds AU are in hot water after an Australian Communications and Media Authority (ACMA) investigation found more than 500 breaches of national self-exclusion rules.
Entain has confirmed the departure of Eminence Capital Founder Ricky Sandler as a Non-Executive Director of the company.
Entain experiences a setback as Eminence Capital, holding 6.5% of shares, announces closure after 27 years. Entain's stock on the LSE fell by 7.04% to 557.4p following the news.