Both Ladbrokes and Coral, owned by the same parent company in GVC, will withdraw on-track betting operations in Britain and Ireland, according to The Guardian.
In total, GVC owned 85 pitches in the UK and 21 in Ireland; all have been sold to John Hooper (seen on-track as Sid Hooper), which also purchased the 82 pitches of William Hill two years ago.
“The volume of business taken through the racecourse pitches is minuscule compared to the volumes generated in our off-course retail and digital businesses, and we no longer use the operation to hedge into the racecourse betting ring,” said Tom Ritzema, GVC's trading director.
“As the racecourse operation is loss-making and no longer has a strategic purpose, we have regrettably reached the decision to sell our pitches and leave the ring. The current situation with Covid-19, and racing behind closed doors, expedited the decision but was not one of the factors behind it.”
Read more at The Guardian.
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