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Pagebet, the North East’s biggest independent betting shop operator has collapsed with the loss of 125 jobs after it fell into the red trying to build a nationwide chain. Administrator PricewaterhouseCoopers has sold on 27 outlets, employing 131 staff, to Oxfordshire-based bookmakers chain Stan James and three sites, employing 13 staff, to Newcastle-based Platinum Leisure (North East). But 23 stores have shut and 125 staff have been axed. These include five branches in the North East with others across the North of England. Its most recent trading figures showed annual losses increased from £484,000 in 2007 to £2.3m in 2008, despite the firm growing its turnover from £11m to £28m.
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I called past a Middlesex shop in Brentford this week so they got that far south at least.
The business is moving online. Shops are in a state of permanent decline and the growth is only online. Although I like to go to my local bookies shop every Saturday (it seems to be lucky for me!) I do all my other betting online. There will always be a place for shops on the high street but at the minute there are just too many. 5 on Chiswick High Road if I’m not mistaken Chiswickian?
- Total Posts 17716
At least five if you include the WillHill just round the corner in Turnham Green Terrace. Massive over saturation. The only firm regularly missing from High St’s in this area is the Tote. Pagebet’s Brentford outlet was less than inspiring so not at all surprised they’re going under.
What would all the poor landlords do if we got rid of all the bookies and chain coffee shops? Get back to reality with the rest of us!
Went to an old favourite shop ( WH )in Portobello Rd the other day and spoke to a few of the locals. Very little action as far as cash punters go on sports or racing anymore ( market traders and locals used to weigh in big ) but plenty of turnover for the dreaded pokie terminals. One roulette bandit in the store raked £7000 in an afternoon session from a hapless but cashed up victim. £500 credit at a time so that’s 14 trips to the window. Staff obviously didn’t slow them down and neither did the bank. So much for security and problem gambling concerns. By all accounts the same mug was seen in the Ladbroke Grove Paddy Power that evening making another lucrative contribution to the Irish fraternity.
The above scenraio has been going on at that Notting Hill outlet for years. So the good gravy is not all online for Bookmaking firms. The Portobello Rd manager was the same for years ( left recently ) and all he ever did was abuse, annoy and ban anyone profitable or knowledgable. Punters were all expected to be as clueless as the staff behind the counter. That mongrel was great for WH but horrible for racing.
I’ve no time for those gaming terminals in shops. They should be banned completely. Its worrying about dependent bookies are on them because they are sure to be better regulated at some point in the future.
I always liked the Coral shop on Chiswick High Road. Friendly crowd passing on their pearls of wisdom to anyone who’ll listen. There was a guy in there who worked for the council who had a great line of the form of Martin Johnson horses.
I don’t think it’s accurate to say that the closure of one small chain of bookmakers means things aren’t looking good for bookies in general.
A company going belly up when it tries to go too big too soon is not rare.
In Manchester, Betfred have been opening shops left right & centre over the last two years (it’s something like eleven new shops) & Paddy Power opened their first branch in the city late last year.
That being said, gambling is one of Manchester’s biggest past-times especially when the Chinese population are factored in. And there are shops everywhere, perhaps too many.
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