The company says it is facing a 'highly competitive trading environment', plus increased costs.

In conjunction with the launch, bet365 announced a new multi-year partnership with Monumental Sports & Entertainment (MSE). This collaboration will result in bet365 becoming a partner of the Washington Capitals (NHL), Washington Wizards (NBA) and Washington Mystics (WNBA).

Gaming heavyweight bet365 pushes into the United States this month with a force seemingly matched by headwinds it faces overseas that caused layoffs Tuesday. Shortly after recent launches in West Virginia and Washington D.

Gambling industry giant bet365 have become the latest operator to announce job losses, with the news that 340 roles are set to be cut across the business. The company blamed pressures from increased taxation and regulation, along with the competitive trading environment, for the decision.

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Monumental Sports & Entertainment — which owns the Washington Wizards, Capitals and Mystics — on Tuesday announced a multi-year partnership with bet365, an online sports betting and gaming company. The partnership comes as bet365 officially launches to customers 18+ across Washington,

The business, which is run by Britain's best-paid woman Denise Coates, said it was shedding 300 jobs at its headquarters in Stoke-on-Trent and another 40 across offices in Malta and Gibraltar.

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