Ladbrokes owner Entain repays some furlough after protest
Entain, the video gaming giant which owns Ladbrokes, is to repay ₤ 44m of the furlough cash it claimed during the pandemic, however keep ₤ 57.5 m.
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Carolyn Harris MP called it "definitely outrageous" that Entain was not repaying all of it, regardless of soaring profits.
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The group made ₤ 393m in pre-tax profit in 2021, up 125% on the year before.
It stated the furlough plan had assisted to safeguard 14,000 tasks, and a "more specific medium-term outlook" made the partial payment possible.
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Entain has around 3,000 betting stores in the UK branded Ladbrokes or Coral - which it needed to close for large parts of 2020 and 2021 since of coronavirus constraints.
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However, punters did not stop betting, they merely moved online. Entain's online business proliferated, and assisting to press the group's revenues up 8% in 2015.
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In reaction to a BBC Newspaper article in January, MPs got in touch with Entain to repay the yohaig code cash it had actually received under the furlough scheme, with previous Conservative leader Sir Iain Duncan Smith stating the company needs to "right away hand the cash back to the UK taxpayer".
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Entain has stated formerly that the situation was "under review". On Thursday, it announced that it would return the ₤ 44m it claimed in 2021, however keep the ₤ 57.5 m it claimed in 2020.
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Carolyn Harris, chair of the Gambling Related Harm All Party Parliamentary Group, stated
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Ladbrokes Owner Entain Repays some Furlough After Outcry
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