Betting shops saved as part of pre-pack deal

A pre-pack sale deal has saved 30 betting shops run by Scotland’s largest independent bookmaker Scotbet.

The firm went into administration after challenges from increasing competition, a shift towards online betting, and changes to maximum stakes on fixed-odd betting terminals (FOBTS).

Out of the company’s 41 shops, 11 will close with the loss of 27 jobs but the remainder will remain open, saving 127 posts. The business was sold by receivers at RSM to Scotb123, which is run by former Scotbet directors.

John Heaton, chairman at Scotb123, said it had been a “very difficult time”.

“I am particularly sorry for the staff in the branches which have closed. Independent bookmakers have been hit hard by increased costs and the reduction of the FOBT stake was the straw which broke the camel’s back.”

RSM is working with the Redundancy Payments Service to support affected staff.