Scotbet for sale as bookies suffer
Sunday 13 February 2011
Scotbet, Scotland's biggest independent bookmaker, has been put up for sale.
Accountant KPMG has been hired to arrange the sale of the 74-shop chain. Scotbet's chief executive, Kenny Waugh, and its finance director, Richard Spanner, were not available to comment, but the business is thought to have struggled in the recent downturn.
Scotbet is part of Mr Waugh's Festival Group, which saw its pubs and hotels business lose nearly £6.5m in the two years to July 2009.
Scotbet is not the only bookie to have been hit by the downturn. The industry is worried that the Culture Secretary, Jeremy Hunt, will approve an increase next week in the horseracing levy that betting shops pay from around £65m to as much as£150m. Will Roseff, the chairman of the Bookmakers' Committee, believes the increase could result in 400 betting shops closing.
New essay by JK Rowling went live on Pottermore site this morning
New UK station Russia Today gives a very bizarre view of Britain
Top Gear presenter is no stranger to foot-in-mouth controversy
- 1 Canadian actor punched in face after 'Islamophobia' experiment goes wrong in wake of Ottawa shooting
- 2 Topshop at centre of row over body image as 'shocking' skinny mannequin photo goes viral
- 3 Woman blinded as a child can see again after hitting her head on a coffee table
- 4 Top Gear presenter Jeremy Clarkson criticised for beer tweet
- 5 The bubble bursts for Sodastream
'Nasa Confirms Six Days of Darkness in December': No, they don't - it's a hoax
Woman blinded as a child can see again after hitting her head on a coffee table
Top Gear presenter Jeremy Clarkson criticised for beer tweet
The bubble bursts for Sodastream
Russian politician says Apple CEO Tim Cook should be 'banned' from country after coming out as gay
Pope Francis declares evolution and Big Bang theory are real and God is not 'a magician with a magic wand'
Huge surge in Ukip support after EU funding row, according to new poll
Ukip ‘exploiting grooming scandal’ to secure party’s first police chief
Nigel Farage: 'There’s nothing wrong with white people blacking up'
Maureen Lipman says 'she can't vote Labour while Ed Miliband is leader'
Muslims, immigration and teenage pregnancy: British people are ignorant about almost everything
iJobs Money & Business
£18000 - £23000 per annum + Comission: SThree: SThree, International Recruitme...
£20000 - £25000 per annum + OTE £35K: SThree: We consistently strive to be the...
£20000 - £23250 Per Annum pro rata: Clearwater People Solutions Ltd: Pro rata ...
£40 - 48k + Benefits: Guru Careers: We are seeking a Marketing Manager to join...