Bookmaker William Hill has announced that it is consulting on plans to close about 700 betting shops. It said a large number of redundancies was anticipated, with 4,500 employees at risk of losing their jobs.
The firm added that the move followed the government’s decision in April to reduce the maximum stake on fixed-odds betting terminals to £2. Since then, the company added, it had seen “a significant fall” in gaming machine revenues.
“The cluster can look to use voluntary redundancy and redisposition measures extensively and can be providing support to all or any colleagues throughout the method,” its statement same.
“Subject to the result of the consultation method, search closures area unit seemingly to start before the top of the year.”William Hill presently has a pair of,300 outlets and twelve,500 workers.
The government cut the most stake on fixed-odds gambling terminals, that had antecedently been £100, as a result of widespread concern that players were able to lose giant amounts of cash in an exceedingly short house of your time.
Some critics delineated the machines because of the crack cocaine of gambling. At the time, the Association of British Bookmakers warned that the move would result in job losses in gambling outlets.