Retail write-down sees Betfred post £40.7m 2017-18 loss iGamingBusiness · June 12, 2019 at 7:33 am Land-based and online betting and gaming operator Betfred has posted a loss of £40.7m (€45.8m/$51.8m) for its financial year ended September 30, 2018. The loss was largely down to exceptional costs in relation to the write-down in value of its retail business following the UK government’s decision to reduce fixed-odds betting terminal (FOBT) stakes from £100 to £2, effective April 2019. Despite this, the operator posted strong figures for the year, with amounts wagered up 6.4% year-on-year to £13.5bn. After customer winnings were stripped out, turnover amounted to £727.6m, a 14.7% improvement on the prior year’s total of £634.5m. The operator’s performance was boosted by the expansion of the retail estate in the prior year, Betfred noted, and growth in online customer numbers.