BETFRED: The dozen south west Wales betting shops waiting to learn their fate

Betfred is closing 132 of its betting shops, and none of the dozen branches across south west Wales yet knows whether it is on the list.

The bookmaker announced the closures on Thursday, launching a consultation with staff at the affected shops, with more than 600 jobs set to go and the closures phased in from September.

The cull covers just over a tenth of the chain’s shops, and will leave it with around 1,100 across the UK.

Betfred has not published a list of the locations earmarked for closure, with the selections being handled through the staff consultation, leaving branch staff and regular customers waiting.

The chain’s shops across the region include four in Swansea, on Union Street in the city centre, Llangyfelach Road in Brynhyfryd, Woodfield Street in Morriston and Pentregethin Road in Penlan.

There are two in Neath Port Talbot, on New Street in Neath and Station Road in Port Talbot, and one in Carmarthenshire, on Lammas Street in Carmarthen.

Pembrokeshire has three, in Castle Square in Haverfordwest, Dimond Street in Pembroke Dock and Charles Street in Milford Haven, while Bridgend county has branches at the Triangle in Brackla and on St John Street in Porthcawl.

Jo Whittaker, Betfred’s chief executive, said the firm had “no choice”, blaming “the combined impact of higher employer National Insurance contributions, wage inflation, increases in gambling taxes and wider economic uncertainty”.

“These are well-run shops, staffed by dedicated colleagues, and it is incredibly hard to see any of them close, but the current fiscal and regulatory environment has made it impossible to keep trading all our shops,” she said.

Founder Fred Done, who built the Warrington-based firm with his brother Peter from 1967, was blunter. Speaking on the company’s Betfred TV, he said closing shops was “like killing your own babies”.

“It’s taken me 60 years to build this chain up and we built it up to 1,650 shops. After the closure of these we’ll be at 1,090, so we’ll have closed 600 shops over the last six years,” he said, adding: “I’ve got a sad heart today. I’m so sorry to make these sorts of announcements, it’s killing me.”

The tax rises he blames came in last autumn’s budget: remote gaming duty rose from 21% to 40% in April, and a new 25% online betting duty covering all sports except horse racing arrives in April 2027.

The closures will hit racing’s finances too. Each Betfred shop contributes around £30,000 a year to the sport in levy and media rights payments, according to analysis by the Racing Post, putting the annual cost to racing at around £4m.

Betfred is not alone. Paddy Power announced 57 closures last October, William Hill is in the process of closing up to 200 shops, and Ladbrokes and Coral owner Entain said this month it would cut 500 jobs.

It is the latest shake-up for the region’s high streets. Argos’s eight local stores were caught up in a £120m sale last week, and Shoe Zone’s UK-wide closures reached the region’s shops in the spring.

The Done brothers remain among Britain’s wealthiest people, with an estimated fortune of £3.61bn, according to the most recent Sunday Times Rich List.

Author

Alastair Isaac

Reporter for Swansea Bay News