Spindle hole restoration?

You might have a whole new market for yourself. What exactly is the problem?

Ben, You can only increase the diameter of the hole. I don't see any way you can narrow its diameter, except maybe by gluing a thin piece of plastic or other material that has been pre-drilled to the more narrow diameter you may prefer, centered over the existing spindle hole. I don't know of anyone who is in the "business" of doing this. But, like the other guy asked, what is the problem?

Try gluing one of these to the record label? Available from many sources.

Lewm's idea would be termed as a re-bushing. A small plastic sleeve or bushing that could be installed after a slight hand reaming.

I might take some transparency film and cut a spindle hole in that. Ream out the existing hole in the record and through trial and error tape the film in proper position That is how I fixed a similar problem with an alignment protractor.