Flutter Entertainment, the owner of Paddy Power, has unveiled plans to eliminate up to 1,400 positions across its workforce. The company's chief executive Kevin Harrington attributed the restructuring to tax increases on the gambling sector, stating that Flutter "cannot fully absorb" the financial impact of these levies.
According to BBC News, the redundancies will affect staff in the UK and Ireland, as well as British and Irish employees working at Flutter's operations in Portugal and Romania. The company has not specified which job categories face elimination.
The government implemented higher tax rates on online casino and sports betting in its November Budget, with horse racing excluded from the increases. Harrington contended that this tax rise had "fundamentally changed" the financial structure of Britain's betting and gaming sector, and he suggested the measure had inadvertently stimulated growth in the unlicensed and unregulated gambling market.
Industry context
Flutter's announcement reflects broader cost-cutting trends across British business. Admiral Insurance announced plans to cut 500 jobs as part of a £100m efficiency programme in September 2026, while Greggs confirmed it would close four manufacturing facilities and eliminate 740 positions by 2028.
