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LadBrokes To Halt High Street Expansion
Tuesday February 18 ,2014 : LADBROKES COULD SAVE GBP 40 MILL BY HALTING HIGH STREET EXPANSION
Reduction in High Street betting shop plans could free up GBP40 million for the burgeoning digital operations.
The Telegraph newspaper reports that British gambling group Ladbrokes is expected to announce plans to halt the introduction of new High Street betting shops, currently the subject of political concern.
By doing this, the company could reduce capital expenditure from GBP 100 million to GBP 60 million, freeing up GBP 40 million to accelerate the further development of the company's burgeoning online gambling strategy.
With over 2,300 retail betting shops, many offering the much-maligned Fixed Odds Betting Terminals, Ladbrokes is among the highest of the High Street betting profiles, yet the company has still had to issue profit warnings in recent months as it struggles to make more of a success of its digital operations following a relatively new agreement with Playtech plc.
The Telegraph notes that with increasing political pressure for restrictions on FOBTs, and tighter local council controls over betting shop openings, the Ladbrokes preference for digital is perhaps sensible.
A Ladbrokes spokesman appeared to confirm at least part of the newspaper report, commenting:
“This year we are likely to be a net closer of shops as we focus on optimising our investments in the retail estate and look to deal with some of the non-contributing shops.”
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
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