Business

William Hill: 700 stores to shut down 4,500 jobs at jeopardy

Bookmaker William Hill has declared that the company intends to shut nearly 700 betting shops, which could point to the loss of 4,500 jobs.

Well, the firm stated the transit attended the government’s declaration in April to lessen the maximum stake on fixed-odds betting terminals to £2.

Following that, the company continued, it had seen “a notable decline” in gaming machine revenues.

William Hill, that operates 2,300 stores and has a staff size of 12,500 members, stated the closings could start before the end of the year.

“The organization will view to employ voluntary redundancy and redeployment steps largely and will be rendering support to all co-workers with this process,” its declaration spoke.

Which betting stores would be hit?

Still, we have no certainty. William Hill will not be showing which stores will shut down until following this year. However, the staff at the shops were told about the decision earlier this week.

The government decreased the maximum stake on fixed-odds betting terminals (FOBTs), which had earlier been £100, with the widespread anxiety that players were able to drop huge amounts of money in a short period of time.

Well, these are computerized gaming machines that enable players to bet on the result of multiple simulated games and events, such as roulette, bingo, horse races, and blackjack.

In its annual report, published in March, William Hill predicts that the government’s declaration would decrease betting shop deals by up to £100m a year and further might drive to the shutting down of nearly 900 stores.

About the author

Olivia Wilson

Olivia Wilson

Olivia is an MA in English. She has excellent content writing skills and she has a lot of experience in this field as well. She joined the team in the very beginning, and since then, she has been working well. She writes Business and Technology news bulletins on Newark Now. She breaks the stereotype that women are not techies in most cases, but she has immense knowledge of various techs, and thus, she does love to write technology related news along with business news.

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