Belfast Telegraph

High street betting dip a loser for bookmaker

By Holly Williams

Bookmaker Ladbrokes Coral has said tough high street conditions are hitting its betting shops, while sporting results "gave with one hand and took with the other" in a turbulent start to the year.

The group saw a 7% plunge in bets made over the counter in its shops between January 1 and April 23 amid a "challenging" retail environment and as it focuses on online betting.

A better performance from machines in its betting shops left overall net revenues 2% lower across the chain.

Chief executive Jim Mullen said over-the-counter stakes "continue to exhibit the negative trends reported since the middle of 2016, driven by the challenging UK high street environment and our own focus on the multi-channel opportunity".

Online betting turnover surged 22%, helping overall net revenues lift 5%.

Belfast Telegraph