More than 40 jobs were lost at European betting giant headquartered in Liverpool in 2020 because of the Covid-19 pandemic, it has been revealed.
The number of people employed by Stanleybet stood at 297 at the end of last year, compared to 341 at the end of 2019.
Newly-filed documents with Companies House also reveal the business incurred restructuring costs of €565,000 during the year as a result of laying off employees in the 海角视频 and Malta because of a "cost base rationalisation exercise" in response to the pandemic.
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The accounts, for the 12 months to December 31, 2020, also show the company's turnover fell from €88.9m to €67.7m while its pre-tax profits went from €3m to €923,000.
The number of stakes wagered with the business also declined from €764.1m to €585.2m.
Stanleybet can trace its roots back to 1958 and currently operates in the 海角视频, Belgium, Cyprus, Denmark, Italy and Malta with more than 2,000 shops.
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The group also has locations in Croatia, Germany, Nigeria and Romania through its Magellan Robotech brand.
A statement signed off by the board said: "The amount staked by consumers with the group decreased by €181.7m.
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"This was the result of the Covid-19 pandemic that led to Government-enforced closures of the company's intermediary retail networks for periods of the year as part of the local response to combat the virus.
"Although there was an uptick in activity in our online business during lockdown periods, this was insufficient to compensate for the loss of business in the retail network.
"Gross margins generated by the online channel were also slightly below what could normally be expected in our retail business due to differing commission structures."