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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.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
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