Flutter Entertainment has confirmed a review of up to 100 Paddy Power betting shops in the UK and Ireland, putting around 400 jobs at risk. The figure represents roughly a fifth of the operator's retail estate across both markets: Flutter runs 506 Paddy Power outlets in total — 310 in the UK, 196 in Ireland — employing over 2,300 people.
This marks the second round of closures. The company shut 57 shops in October. How the new closures will split between the two countries has not been disclosed.
The move follows rising operational costs and tax changes announced in the UK budget. Former Chancellor Rachel Reeves nearly doubled the remote gaming duty rate. Flutter estimated the impact on 2026 profit at $320 million before $85 million in mitigation measures. Earlier this year the company restructured Paddy Power's marketing department, also citing the RGD increase.
The review coincides with weak second-quarter results: Flutter posted a $296 million loss against a $37 million profit a year earlier. Revenue in the UK and Ireland rose 4% to $971 million. The company also announced the departure of CEO Peter Jackson, who will be replaced by Dan Taylor, currently head of Flutter International.
Jackson said the company has a plan to mitigate the tax changes and expressed confidence in growing UK market share as smaller operators face pressure from the levy. Goodbody analyst David Brohan called the shop closures part of those measures.
Paddy Power is not alone. Betfred announced the closure of 132 outlets in late July, William Hill (owned by Evoke) shut 270 shops following a strategic review triggered by the budget, and Entain has also reduced its high-street presence. British racing stands to lose seven-figure sums from the closures: Betfred's 132 shops alone will cost the industry around £4 million in lost levy and media payments.
