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Big Plans For Betfred
2/17/10 - The online and land bookmaker Betfred has ambitious plans for the immediate future that could see a bid to buy the Tote, and expanding further into the London betting shop sector with 25 shops employing up to 150 people.
Betfred chief Fred Done told the Manchester Evening News about his plans this week, saying that he expects state-owned betting business the Tote to go on the market after the UK general election and expressing an interest in bidding for it.
The gambling executive was celebrated the opening of his latest branch in Manchester’s Chinatown, and revealed that he was committed to raising BetFred’s profile in London.
“We will be specifically targeting the best quality locations we can find and emphasis for the new openings will be within the M25," he said. Bookmaking is in recession like every other industry. You have got to get the best if you want the best chance of succeeding.
“The shops we do have in London are trading very well but we need more support from bigger numbers of shops.
“The name BetFred is not so well known in London as it is in the north, but we have been sponsoring some high-profile events like the World Snooker," he added.
Done still believes the Wigan-based Tote is within his grasp – if the price is right. The sale of the state betting chain, which has 540 outlets, has been on the cards for years and an offer of GBP 400 million was rejected in 2007.
“We can buy it, but in the last two years the value will have dropped considerably," said Done. “I now believe the asking price should be less than GBP 200 million.”
BetFred saw turnover increase to GBP 2.77 billion in 2009, a 5.7 percent increase on 2008. The company is owned by brothers Fred and Peter Done and was established in 1967, employs around 2 600 staff and has 830 shops from Aberdeen in the north to Cornwall in the south.
3 Top Bitcoin Poker Sites -
Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.
Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
With more and more states moving toward online casino integration, an increasing number of international players are moving in on American territory. Who will take the crown of the most popular online poker venue in the United States?
Top gambling ICOs to watch this year -
The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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