Ladbrokes keeps furlough money despite record sales

Ladbrokes Coral
Ladbrokes Coral see a promising start to the year following their 2016 merger.

Despite the lockdown boom, Ladbrokes received  £102m from the government’s furlough scheme.

The betting company saw huge profits during the lockdown yet pocketed £57.5m in 2020, and £44m in 2021 from the scheme.

Despite being able to claim the support, many other companies have returned the government package. William Hill returned £24.5m in August 2020.

Entain, which owns Ladbrokes, said: “The furlough scheme was a sensible and highly welcome policy intervention that helped us, as one of the country’s largest retailers, to maintain the livelihoods of more than 14,000 retail colleagues on full pay.

“Whilst the virus is still with us and the outlook, although improving, is still far from certain, the board will continue to keep the situation under review.”