William Hill that it could close up to 700 branches by the end of the year.
The firm is currently consulting on plans to downsize its UK estate following a “significant fall” in gaming machines revenues.
A company statement read:
“William Hill has entered into a consultation process with retail colleagues over plans to close around 700 licensed betting offices.
“This follows the government’s decision to reduce the maximum stake on B2 gaming products to £2 on 1 April 2019. Since then the company has seen a significant fall in gaming machine revenues, in line with the guidance given when the government’s decision was announced in May 2018.
“A large number of redundancies is anticipated with 4,500 colleagues at risk. The group will look to apply voluntary redundancy and redeployment measures extensively and will be providing support to all colleagues throughout the process. Subject to the outcome of the consultation process, shop closures are likely to begin before the end of the year.”
The bookmaker currently operates just under 2,300 shops, employing close to 12,500 workers.