Simon Rigby has decided to offload another part of his empire.

This time the multi-millionaire has parted company with BetSid.

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His betting firm expanded rapidly across Lancashire taking on new shop units.

Mr Rigby told Blog Preston he is continuing to refocus on being a landlord rather than operating leisure units or other businesses.

BetSid has been sold to Place Your Bets Limited for an undisclosed sum.

They have stores in Church Street, Friargate and New Hall Lane, Preston, as well as Buckshaw Village, Chorley and Lytham St Annes.

Mr Rigby told Blog Preston: ““I believe that BetSid as a local high street business will not only survive this years’ traumas but prosper as bookmaking returns to its roots as part of the local community.”

The new firm is beind led by current BetSid MD Paul Kirkby.

He said: “We see this as a quasi-management buyout. Myself and the shops senior management Team are all joining Place Your Bets Ltd and are to focus on consolidating BetSids High Street Operations, carrying on with our ethos of taking on the major national chains with superior value for money.”

All bets made by BetSid customers are being honoured.

Place Your Bets has not acquired BetSid’s online business.

Mr Rigby said potential legislation changes had triggered the sale.

He said: “In order to survive such change I believe that BetSid is better part of a business focused entirely on high street bookmaking.”

Read more: Simon Rigby responds over Blood Brothers non-payment claims

Mr Rigby has recently made major changes at the Guild Hall, he now only operates LeVel, having moved Review into third-party ownerships as well as Bonds ice cream. Vittorias restaurant also closed and is due to be taken on by an as yet unannounced restaurant chain.

He has also closed Fives and is looking for new management to take that on.

Safehands Nurseries, owned by Mr Rigby, has also seen a number of its premises close.

Have you ever used BetSid? What do you think of the sale? Let us know in the comments below