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Fred Done maps the way forward in Manchester Evening News interview

The owner of the Betfred bookie empire, Fred Done, has shared his vision of the group's future with the Manchester Evening News following the sale earlier this week of his Netherlands Antilles-registered online casino operation Betfred NV for GBP 27.2 million to an undisclosed buyer.
 
Done said his Betfred empire would open its 800th land branch by the spring and he believed the group could grow to 1 000 outlets within three years. The expansion would create 350 jobs over the next 12 months in a Britain desperate to create employment in the current recession.
 
Over the past few years, Betfred has expanded at a rate of around 80 shops a year with investment of GBP 15 million, Done revealed. But during the current financial year, which ends in March, the chain will have added 50 outlets with 70 openings and 20 closures. This year, it will add about 40 shops at a cost of around GBP 7 million, creating 350 jobs, he predicted. The group currently employs 4 000 staff, including 350 at its headquarters.
 
Turnover is proving robust despite the economic climate, Done told the newspaper, with growth of around five percent to an expected GBP 1.6 billion.
 
The group is also investing heavily in its IT operations with a GBP 1.5 million programme to introduce chip-and-pin technology in all its shops.
 
Betfred shelved plans to sell or float the business on the stock exchange at the end of 2007, discouraged by turbulent market conditions and preferring to focus on growth, but may reconsider a stock market listing in between three and five years' time, Done said.
 
The group's e-gaming operation based in Gibraltar is surging ahead, Done revealed. It offers bingo, poker, casino and roulette games online and has grown from a standing start 15 months ago to revenues of around GBP 300 million and a staff of 26, which Done expects to double over the next 12 months.

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Gambling News :

Interwetten 2016 Earnings Results - Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform

EU Online Gambling Tax Harmoney Dead - Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.

Jack Lam Facing Big Fines in the Philippines - It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.

Walter Merricks Term As Gambing Commissioner Extended - The UK Government has extended Walter Merricks’ term as Commissioner of the Gambling Commission for a further year, ending December 31, 2017.

Loot’enKhamun Pays $3.8 Million Jackpot - A London-based construction worker’s year got off to a great start when he hit the Loot’enKhamun jackpot at bwin casino.

PlaySugarHouse To Carry Konami Content - Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.

ITF TERMINATES BETWAY SPONSORSHIP DEAL - The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.

GSA To Launch European division - The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.

Paddy Power Trading Update - Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.

Tabcorp SunBets project - The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.

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