Ladbrokes owner feels squeeze

GAMBLERS have cut their spending in the face of the cost-of-living crisis, entain warned yesterday.

The ladbrokes and Coral owner warned that online gaming revenues are set to remain flat this year.

The betting giant said online gaming revenues fell 7pc in its first half to June 30, with the decline picking up pace to 8pc in the second quarter.

entain cut its full-year online gaming revenue outlook, saying the economic situation has seen customers rein in their spending. Gambling groups saw online betting surge during lockdowns at the height of the pandemic, with entain enjoying a 12pc increase in online net gaming revenues last year.

but the ending of Covid restrictions has sparked a drop-off in online betting, while entain’s latest update has revealed a further hit as the cost-of-living crisis knocks customer spending. but entain said trading in its 4,300 High street bookies was better than it expected.