Flutter Entertainment plans to cut up to 1,400 jobs in its UK & Ireland division, citing higher betting and gambling taxes introduced in last year's autumn budget.
The cuts will affect all functions, including staff in Leeds and Dublin and UK&I roles at the offshore hubs in Porto and Cluj-Napoca. Final decisions will follow consultations. Flutter expects the restructuring to cost $80–90 million, which it will recognize in Q4 2026. The group employs about 28,500 people, including roughly 9,000 in UK&I.
'Taxes have fundamentally changed the economic models of regulated operators in this market,' said UK&I CEO Kevin Harrington. Flutter cannot absorb a rise of this scale without reducing its fixed cost base, he said, adding that the restructuring is needed to secure its future position. As the country's largest operator by scale, Flutter should retain the capacity to grow its market share, Harrington said.
Pressure on the sector
Remote gaming duty increased from 21% to 40% and took effect on 1 April this year. The online betting tax is due to rise from 15% to 25% in April 2027. Local councils have also gained the power to block the opening of offline betting shops.
Operators are responding with cost reductions. Betfred is closing up to 132 shops and cutting more than 600 jobs. Evoke has closed around 200 William Hill stores, about 15% of the retail network, while Bet365 is reducing about 340 positions, citing the tax burden. Flutter considered closing up to 100 Paddy Power stores last month.
The UK budget is due next week. Doubling machine games duty to 40% is under discussion after the Social Market Foundation proposed the change and Labour MPs led by Alex Ballinger wrote to Chancellor Jon Healey to include it in the document. Betfred owner Fred Done warned in September that further tax rises could trigger mass closures and the near-total disappearance of the retail market.
