Betting chain set to rebrand

MORRISONS, the Edinburgh-based bookmaker, is to rebrand under a different name as it plans to expand.

The betting chain, owned by managing director Kenneth Waugh, is to be known as ScotBet and is also eyeing the Scottish outlets of government-owned Tote, which is to be privatised.

It wants to add 100 stores within a year. The company reported an 11 per cent rise in turnover to 6.06 million in the year to July 31.

It has also moved to counter a reduction in in-shop betting by adding an online offering. Mr Waugh said: "I think with the supermarket chain Morrisons and a builder of the same name in Scotland, we found it hard to have a unique brand. So we have decided to rebrand as ScotBet."