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Paddy Power Owner to Cut 1,400 Jobs in UK and Ireland
The owner of Paddy Power says rising gambling duties will add more than £400 million in costs in 2027 and force deeper restructuring.
- On Tuesday, Flutter Entertainment announced it will cut 1,400 jobs, representing around 15% of its UK and Ireland workforce, to mitigate the impact of rising gambling taxes.
- Flutter UK and Ireland chief executive Kevin Harrington said the company "cannot fully absorb" the tax increases, which have "fundamentally changed the economic model" of the regulated gambling industry.
- The restructuring plan is expected to cost between $80 million and $90 million , impacting staff in Leeds, Dublin, Porto, and Cluj-Napoca.
- Across the sector, William Hill owner Evoke has shut 270 shops since the Budget, while Bet365 shed 300 jobs at its headquarters in Stoke-on-Trent last month.
- Prime Minister Andy Burnham's government plans to revoke 2005 Gambling Act provisions restricting councils from rejecting new betting shops, amid speculation of further machine games duty increases later this month.
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17 Articles
Evening Standard+2 Reposted by 2 other sources
Paddy Power owner to axe 1,400 jobs after UK tax hikes
The gambling giant said the proposed cuts will impact workers in Leeds and Dublin.
·London, United Kingdom
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Coverage Details
Total News Sources17
Leaning Left3Leaning Right3Center6Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 25%
C 50%
R 25%
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