Flutter plans up to 1,400 UK and Ireland job cuts

Flutter Entertainment could cut up to 1,400 jobs across its UK and Ireland business, the group confirmed on Tuesday, as it restructures in response to higher UK betting and gaming taxes introduced after last year's Autumn Budget.

The proposed redundancies, which remain subject to consultation, would affect staff in Leeds and Dublin as well as UK&I roles based at offshore hubs in Porto and Cluj-Napoca, according to iGaming Business.

A Flutter spokesperson told the outlet that job losses can be expected "across every function" of the company.

Flutter estimated the cost of implementing the changes at between $80 million and $90 million, a figure it expects to recognise in the fourth quarter of 2026.

The group employs roughly 28,500 people worldwide, of whom around 9,000 work within its UK and Ireland operations.

Flutter's UK&I chief executive Kevin Harrington said the tax rises had "fundamentally changed" the economics of regulated operators in the market.

"As we warned a year ago, we cannot fully absorb a rise of this magnitude without reducing our fixed cost base and therefore must restructure our business so that we can best position ourselves for the future," Harrington said.

He added that Flutter remained "confident that we are well placed to benefit from share gains given our position as the largest scale operator in the UK."

The restructuring follows the near-doubling of remote gaming duty from 21% to 40%, which took effect on 1 April this year after being announced by then-chancellor Rachel Reeves. A separate increase to remote betting duty, from 15% to 25%, is due to come into force in April 2027.

Ministers have also given local councils new powers to block betting shops from opening, adding further pressure to the retail side of the business.

Other operators have responded to the tighter tax and regulatory environment with their own cost-cutting measures. Betfred announced in August that it would close up to 132 shops and cut more than 600 jobs, while Evoke has shut around 200 William Hill shops this year, roughly 15% of its retail estate.

Bet365 cited "tax-related costs" last month when it announced plans to cut approximately 340 roles. Flutter itself had already disclosed, a month earlier, that it was considering closing up to 100 Paddy Power shops.

The sector is now watching for next week's UK budget amid speculation that machine games duty could double to 40%. The Social Market Foundation, a think tank, has urged the government to raise the duty on higher-risk Category B machines.

A group of Labour MPs led by Alex Ballinger wrote last week to the Chancellor calling for the machine games duty increase to be included in the forthcoming budget.

Betfred owner Fred Done told the Financial Times in September that further tax rises could trigger widespread shop closures and effectively eliminate the UK's retail betting market.