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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.
PartyPoker Rakebak -
Partypoker brings back rake back for players. All new ‘partypoker weekly Cashback’ launches.
NHL Odds: Lone Canadian Team Plays on Friday -
“Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.
NBA Odds: Will Cavaliers Be Rusty in Game 1? -
The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.
4 New Microgaming Releases in May 2017 -
Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.
PKR Company Statement Update -
Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.
Microgaming Wins The Spark Award 2017 -
The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.
NHL Predators First Ever Conference Finals Appearance -
With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.
NBA Odds: Wizards-Celtics at the Garden -
The Washington Wizards are making this a series. They’ve won back-to-back games against the Boston Celtics to knot this second-round matchup at 2-2 with Game 5 at the Garden on Wednesday. TNT has the coverage starting at 8 PM ET.
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