Flutter Entertainment has launched a review of Paddy Power's retail estate that may result in the closure of up to 100 betting shops across the UK and Ireland, putting 400 jobs at risk. The operator cited rising energy costs, rent, business rates and higher gambling taxes.
Paddy Power currently operates 506 shops: 310 in the UK and 196 in Ireland. Closing 100 would reduce the estate by nearly a fifth. If all 400 positions are cut, retail headcount would fall to 1,909. Last year the company shut 57 shops — 28 each in the UK and Ireland, plus one in Northern Ireland.
A Flutter spokesperson called the review an 'extremely difficult decision' but said the retail estate remains part of the business. Staff affected will be offered internal transfer opportunities where possible.
Last autumn the industry warned the UK government that tax increases would trigger mass closures and job losses. Retail avoided immediate tax hits, but remote gambling was hit hard: remote gaming duty rose from 21% to 40% in April 2026, with remote betting duty climbing to 25% from April 2027. Large operators like Paddy Power work across all segments, and the retail reprieve did not shield them from the wider impact.
Betfred and William Hill have carried out similar restructuring recently. Flutter reported second-quarter revenue growth of 4% in the UK and Ireland to $971 million, with iGaming up 7%. Entain posted 13% online revenue growth in the region. Flutter recorded a net loss of $296 million for the quarter.
Last year the company said the new taxes would reduce profit by $540 million across 2026–2027 before mitigation measures.
