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Jobs at Risk as Well-Known Bookmakers Could Close 100 Shops
The closures would cut about one-fifth of Paddy Power’s 506-shop estate as Flutter cites rising costs, fierce competition and higher gambling taxes.
- Flutter Entertainment announced plans to close up to 100 Paddy Power betting shops by the end of the year, putting 400 jobs at risk across its UK and Ireland retail estate.
- A Flutter spokesperson cited "challenging high street conditions including rising costs, fierce competition and higher gambling taxes from last year's UK budget" as drivers for the difficult review decision.
- The announcement follows difficult Q2 trading figures for the New York Stock Exchange-listed firm, where profits swung from a $37m gain to a $296m loss year-on-year.
- Competitors including Betfred and William Hill owner Evoke are similarly contracting their retail presence, with Betfred shutting 132 stores and Evoke closing 270 betting shops.
- The company, which also owns Sky Bet and Betfair, said "impacted colleagues will be offered redeployment opportunities where possible" as it navigates the restructuring.
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17 Articles
17 Articles
Braintree & Witham Times+4 Reposted by 4 other sources
Jobs at risk as well-known bookmakers could close 100 shops
Popular bookmakers Paddy Power are undertaking a review that could see 100 shops close. Essex stores at risk.
·Colchester, United Kingdom
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Coverage Details
Total News Sources17
Leaning Left3Leaning Right1Center8Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 25%
C 67%
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