Bookmaker William Hill has announced plans to close 700 betting shops putting 4,500 jobs at risk.
The company said of its store closure plans: "This follows the Government's decision to reduce the maximum stake on B2 gaming products to £2 on 1 April 2019.
"Since then the company has seen a significant fall in gaming machine revenues, in line with the guidance given when the Government's decision was announced in May 2018."
It plans to begin shutting shops by the end of the year.
Details of which shops that will be closing have not been made public.
The maximum bet on fixed-odds betting terminals was cut from April from £100 to £2.
The government decided to go ahead with the law after ministers ignored pleas from bookmakers and branded the machines a “social blight”.
The decision was made after Swansea East Labour MP Carolyn Harris’
The group statement said it will look to apply voluntary redundancy and redeployment measures extensively and will be providing support to all colleagues throughout the process.
