Global sports betting giant Entain PLC, which as the parent of Ladbrokes and Coral has 17 betting shops across Gloucestershire's retail map, has seen its shares jump by more than 8% this morning after it hiked the annual earnings outlook for BetMGM, its joint online betting venture with Las Vegas's MGM Resorts.

Having previously guided for "positive" earnings and for revenue at £1.8bn, the Isle of Man based giant says that BetMGM is now set for revenues of at least £1.9bn, after the ongoing "positive momentum" from the first quarter carried through into the second quarter.

Formerly GVC Holdings PLC until 2020, Entain's presence here – at the latest count – includes Ladbrokes sites in Brockworth, Stroud and Cirencester, as well as three in the centre of Cheltenham, and another on Gloucester's Southgate Street.

Meanwhile Dursley has a Coral outlet and eight more operations are scattered in and around Cheltenham and Gloucester.

As a FTSE firm, Entain's revenue in 2024 came to £5,089.2m and the company's most recent results for Q1 2025 performance saw a reiteration of its expectations for mid-single-digit constant currency growth in Online Net Gaming Revenue.

Stella David, CEO of Entain, said: "We have made a strong start to 2025. Our improving operational execution saw us exit 2024 with clear momentum which has continued in Q1. Entain has a clear and compelling strategy with today's results further evidence of its delivery. We are in the early stages of our journey of improvement and are driving ahead at pace."

Given its confidence, the report added said Entain's portfolio of podium positions in "attractive and regulated growth markets underpins the structural growth embedded in our business", adding: "We are confident that our current momentum and underlying growth will deliver quality and sustainable earnings with a clear pathway to generating over £0.5bn of annual cashflow in the medium term."

In April this year, gambling sector experts at PlanetSport issued a report that suggested UK high street gambling outlets were declining at a notable rate amid the growth of online betting through smartphone platforms.

Against the backdrop of a digital revolution, its report said: "In the past, these shops acted as meeting points for punters wanting to place bets and watch races, but now most of these shops are closed, and their windows are covered with "To Let" signs.

It added that this shift marks "a more profound change within the gambling ecosystem that has accelerated rapidly in the last 10 years."

PlanetSport calculated that that between 2015 and 2024, more than 3,000 betting shops, some 30% of the total, closed across the UK.

And here in Gloucestershire, evidence of that trend is tangible. Chartered Surveyors ASH are currently marketing Stonehouse's Ladbrokes site on the town's busy High Street, which was reported to have closed down earlier this month. A long-term lease here is on offer for the 168sqm property at a rent of £1,875pcm.

Will a flurry of premise sales follow in the coming year? According to industry insiders, we will surely certainly see more closures, given that the entire industry works amid ongoing regulatory changes.

Fixed-odds betting terminals were seen as being highly profitable for betting shops, but restrictions made in in 2018 marked a new challenge for high street bookies, while the UK Gambling Commission is seeking tougher affordability checks for all gambling platforms.

In such circumstances, it is said that traditional betting shops face tougher competition because online alternatives can deploy clever legal tactics to meet gamblers' demands with comparative ease. Added to that, rising operating costs for staffing, rates and wages make it little wonder that today's financial indicators from Entain suggest online profit is a safer bet.

According to 365Retail, the process of high street closures is accelerating, with 1,200 closures in 2024 alone. 

But all the while, online betting, it says, is far from disappearing: "The online sports betting market in the UK is projected to reach $53.78bn (£39.59bn) in 2025, with expectations of continued growth."