Reason for Chesterfield store closure revealed

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A Chesterfield betting shop has closed.

Ladbrokes at 39 Low Pavement shut on Sunday.

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A Ladbrokes spokesperson said: "Unfortunately, general trading conditions - exacerbated by the recent implementation of the £2 maximum stake on fixed odds betting terminals - meant that the betting shop was no longer commercially viable."

From April, the maximum stake on fixed-odds betting terminals was cut from from £100 to £2.

Jeremy Wright, secretary of state for digital, culture, media and sport, said: "Reducing the potential loss per spin from £100 to £2 is a significant step forward in protecting vulnerable people.

"The Government's actions and ambitions stretch much further and we are looking at further treatment of those who have suffered from gambling-related harm, whether gambling on credit should be limited and considering what actions are necessary to tackle problem gambling online."

Neil McArthur, chief executive of the Gambling Commission, said: "We have been closely monitoring operators’ plans to manage the implementation of the stake cut and we will continue to watch very carefully to ensure that any changes and developments to these products are done with a focus on customer safety.

"Together with Government and the industry we must continue our ongoing work to make the whole industry safer - this includes continuing to make progress with making other products safer, as customers may move to gamble in other ways following the stake cut - including online, mobile and on the high street. 

"It's imperative that operators invest in and use data, technology and measures to identify harmful play and can step in to protect players when needed.

"They should be innovating to protect their customers, as much as they do to make a profit."

Ladbrokes has another store at 7 Glumangate.