Closed Irish shops drive €10m losses at Ladbrokes' European retail business

Owner Entain said retail in the UK, Italy, Belgium and the Republic were heavily impacted by Covid closures, but saw good recovery upon temporary reopening

Ladbrokes’ Irish-based betting shops were closed for much of last year.

The forced closure of Ladbrokes’ Irish-based betting shops for much of last year due to the Covid lockdown restrictions helped drag the European retail operations of betting group parent Entain to an £8.8m (€10.2m) loss last year.

Entain owns a number of online gaming brands including Betdaq, Bwin and Foxy Bingo. 

Its main retail betting arm is Ladbrokes-Coral. The European retail business cuts out the UK and the North and covers the Republic, Italy and Belgium. 

The bulk of that comprises its near 140-shop Ladbrokes estate in the Republic.

Entain said retail in the UK, Italy, Belgium and the Republic were heavily impacted by Covid closures, but saw good recovery upon temporary reopening. 

It said this indicated strong demand for retail betting shops “for years to come”. European retail made a £38m profit for Entain in the previous year.

Entain said net gaming revenue at its European retail arm fell nearly 40% to £178.5m.

Meanwhile, William Hill reported a 91% slump, to £9.1m, in annual pre-tax profit.

The company – which is being taken over by US giant Caesars Entertainment – had posted profits of £96.5m a year earlier. William Hill’s online betting revenues, however, grew 9% in the year.