William Hill seeks 50% rent cuts

William Hill has written to landlords asking for rent cuts of up to 50%. The move comes ahead of new regulations coming into force in April that lower the maximum bid allowed on fixed-odds betting terminals from £100 to £2. William Hill is preparing to close betting shops and overhaul other sites due to tough conditions on the high street and the government clampdown on fixed-odds betting terminals. It expects that as many as 900 shops will eventually become loss-making as a result of the changes to fixed-odds machines. Following the government’s decision to reduce fixed-odds betting terminal maximum stakes to £2, William Hill wrote to around 2,000 landlords seeking a reduction in its rental obligations. This was one of a number of steps the bookmaker is taking to mitigate the impact of this decision on its business. Nicola Frampton, director of UK retail at William Hill, said: “The purpose of the letter is to inform landlords that we are taking some extremely difficult decisions about the size of our betting shop business – and that these decisions will have a direct impact on our landlord partners.” To send feedback, e-mail anna.ward@egi.co.uk or tweet @annaroxelana or @estatesgazette Photo: Newscast/REX/Shutterstock