Entain has proposed closure of its 39 Ladbrokes retail locations in Ireland due to unsuccessful attempts to sell those stores. This reduction in retail store presence represents the most significant reduction of store counts from any Irish owned retail business.
Approximately 226 jobs will be lost from the Ladbrokes closures (39 total closures) within a few months after the completion of operational processes on August 31, 2023, leaving approximately 66 operational Ladbrokes retail locations with approximately 350 staff in Ireland at that time.
A Ladbrokes spokesperson said:
We continually review our retail estate to ensure our business remains competitive and financially sustainable. Our priority now is to engage constructively with colleagues throughout the consultation process, with a strong focus on redeployment wherever possible. Ladbrokes remains committed to Ireland and to operating responsibly within a sustainable retail footprint.
The decision by Entain to close stores resulted from recent negotiations held with Bar One Racing regarding potential acquisition of all of Ladbrokes presence in Ireland without a successful conclusion.
Commenting on the closures, the spokesperson added:
These planned closures in the Republic of Ireland are not a decision we take lightly and reflect sustained cost pressures, long-term changes in customer behaviour and the growing competitive threat from the unlicensed market.
In addition to the Ladbrokes closures, reports were recently released that Evoke would be closing approximately 200 of their retail locations in the UK, followed by Flutter Entertainment announcing the planned closures of 57 retail locations of their Paddy Power brand.
