William Hill plans to cut about a third of its betting shops and jobs in Britain...
) plans to cut about a third of its betting shops and jobs in Britain after the government slashed the maximum stake permitted on fixed-odds terminals, dubbed the “crack cocaine” of gambling by their critics.
It said that the closures, which would put about 4,500 of its 12,500 British jobs at risk, were likely to begin before the end of the year, in the latest blow to Britain’s struggling high streets. William Hill’s rival GVC has warned the stake limit would lead to the closure of up to a 1,000 shops and cut its 2019 core profit by about 135 million pounds .
William Hill, which in March took a 882.2 million pound non-cash write-down of its retail business, did not immediately respond to a request for details on its plan. It said it was consulting with its employees over the shop closures.British betting companies have been pushing into the United States after the U.S. Supreme Court overturned a federal ban on sports betting.
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