Victor Chandler have sold 41 of their betting licences – the majority in London and the Home Counties – to rival firm Coral.
They will, however, retain their flagship betting lounge in Mayfair, London, in addition to their Dublin betting lounge.
“The retention of our luxury betting lounges in Mayfair and Dublin was critical to the deal being completed,” said Victor Chandler.
“The sale of the shops made excellent business sense. Coral made an offer we felt was too good to refuse.
“UK betting shops are still a key part of our strategy and we will continue to look for opportunities to purchase shops.”