23rd Feb 2015 08:32
LONDON (Alliance News) - Ladbrokes PLC is set to announce later this week that it will close around 50 betting shops as the group faces the twin challenges of tax rises and regulation, The Sunday Times reports.
The company is expected to outline the plans at its full-year results presentation on Thursday, bringing the total number of closures by Ladbrokes and rivals William Hill PLC and Gala Coral Group Ltd in the past year to more than 200, the paper said.
Ladbrokes shares were down 5.8% to 114.9 pence on Monday morning, the worst performer in the FTSE 250.
By Sam Unsted; [email protected]; @SamUAtAlliance
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