Ladbrokes claimed £102m furlough money despite online profits

Finance News

Ladbrokes claimed £102m from the furlough scheme, it has emerged, despite rapid growth in online betting making up for all losses from the closure of stores.

The bookmaker claimed £57.5m in 2020 and a further £44m this year but. Its parent company, Entain, said the money protected 14,000 jobs, and is “under review”. Rival bookmaker William Hill opted to return £24.5m of furlough money in August 2020.

Ladbrokes is owned by global betting giant Entain, which enjoyed huge boosts in profits during the Covid-19 crisis as bored households turning to online gambling and casino games during lockdowns.