Flutter Entertainment will cut up to 1,400 jobs across its UK and Ireland business, almost 16% of 9,000 staff. The decision came three weeks after Dan Taylor became group CEO on 1 October, succeeding Peter Jackson.
UK&I chief Kevin Harrington tied the cuts directly to tax increases, saying they had 'fundamentally changed' the economics for licensed operators. More than 450 roles are at risk in Leeds from about 1,700 staff, and around 240 in Dublin from 1,770 at headquarters. Staff were offered voluntary redundancy, with finance and HR to bear cuts. Betfair Romania Development confirmed about 300 UK&I roles will go in Cluj-Napoca, though a local consultant put the number at 350-400. Staff in Porto are also affected.
Remote gaming duty rose in April from 21% to 40%, with remote betting duty due to rise from 15% to 25% in April 2027. Flutter estimates the hit at $540 million of adjusted EBITDA in 2027 and is cutting fixed costs. The restructuring will cost $80-90 million, to be recognised in Q4 2026. Retail is excluded.
That follows a plan a month earlier to close up to 100 Paddy Power shops, putting 400 jobs at risk. Taylor previously ran the international business. Flutter shares are down more than 65% over 12 months, pressured by competition with Kalshi and Polymarket and a temporary block on online betting in Brazil. The cuts came a week before the UK Budget, where an increase in machine games duty to 40% is under discussion. Betting and Gaming Council chief Grainne Hurst called the layoffs 'another crushing blow'. Bet365, Betfred and Evoke have already cut staff this year.
