Key facts
- Betfred plans to cut 600 jobs.
- Betfred will close 132 shops.
- The company's co-founder warned of potential tax increases.
- Higher taxes could lead to the closure of all 1,287 Betfred shops.
- Up to 7,500 jobs are at risk if all shops close.
Betfred is implementing significant cuts, planning to reduce its workforce by 600 employees and close 132 of its betting shops. These measures are a direct response to fears of impending tax increases targeting the gambling sector. The company's co-founder has voiced serious concerns, warning that such tax hikes could trigger the closure of Betfred's entire network of 1,287 shops. This potential widespread closure would place approximately 7,500 jobs at risk, highlighting the precarious financial situation facing the company and the industry at large.