Ladbrokes owner Entain repays some furlough after protest
Entain, the gaming giant which owns Ladbrokes, is to repay ₤ 44m of the furlough money it claimed during the pandemic, but keep ₤ 57.5 m.
Carolyn Harris MP called it "absolutely shameful" that Entain was not repaying everything, regardless of skyrocketing revenues.
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The group made ₤ 393m in pre-tax revenue in 2021, up 125% on the year before.
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It stated the furlough scheme had helped to protect 14,000 tasks, and a "more certain medium-term outlook" made the partial repayment possible.
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Entain has around 3,000 wagering shops in the UK branded Ladbrokes or Coral - which it needed to close for large parts of 2020 and 2021 because of coronavirus limitations.
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However, punters did not stop wagering, they just moved online. Entain's online business grew quickly, and assisting to press the group's incomes up 8% last year.
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In reaction to a BBC Newspaper article in January, MPs got in touch with Entain to repay the cash it had actually gotten under the furlough plan, with previous Conservative leader Sir Iain Duncan Smith stating the company should "right away hand the cash back to the UK taxpayer".
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Entain has said previously that the circumstance was "under evaluation". On Thursday, it announced that it would return the ₤ 44m it claimed in 2021, but keep the ₤ 57.5 m it claimed in 2020.
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Labour MP Carolyn Harris, chair of the Gambling Related Harm All Group, said
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Ladbrokes Owner Entain Repays some Furlough After Outcry
Alana Bevington edited this page 9 months ago