Tax blamed for 1,400 jobs axe

By the Editorial Team · Wednesday, October 21, 2026

Flutter Entertainment announced it will eliminate around 1,400 jobs across the UK, Ireland, Portugal, and Romania as part of a restructuring influenced by higher UK gambling taxes and the integration of Sky Bet. The company warns that increased tax burdens are pushing customers toward unregulated markets, raising concerns about the long-term competitiveness of licensed operators.

Flutter Entertainment, the parent company of Paddy Power and Sky Bet, has announced plans to cut approximately 1,400 jobs across its UK and Ireland operations as part of a significant restructuring effort. The reductions will affect employees in locations including Leeds, Dublin, and Sunderland, as well as teams based at Flutter hubs in Porto, Portugal, and Cluj-Napoca, Romania.

The company has attributed the job cuts largely to recent increases in gambling taxes introduced by the UK government. Last year’s Budget raised the remote gaming duty, which is applied to online casino games and slots, from 21% to 40%. Additionally, the duty on online sports betting is set to increase from 15% to 25% in April as part of the tax changes. Kevin Harrington, Flutter’s chief executive for the UK and Ireland, said the hikes have fundamentally altered the economic landscape for regulated operators, contributing to a shift towards the unregulated market.

Flutter expects the restructuring to result in a one-time charge of approximately $90 million (£67.3 million). Despite the announcement, the company’s shares rose by more than 2% in early trading on the US stock market.

Other major gambling companies, including Entain, the owner of Ladbrokes, and Evoke, which owns William Hill, have also cited the tax increases as a key factor in recent financial challenges and workforce reductions. According to industry sources, the integration of Flutter’s recent acquisition of Sky Bet has also played a role in the job cuts, as the company consolidates operations.

An anonymous insider noted that government policy changes coincided with existing plans to merge and streamline Flutter’s brand portfolio, leading to inevitable staff reductions. While Flutter has highlighted the tax burden as a primary driver, the restructuring reflects broader operational adjustments within the company.

The job cuts and tax increases have sparked debate across the gambling sector about the impact of regulatory changes on the industry’s competitiveness and the potential growth of unregulated operators. Flutter’s leadership emphasized that the fiscal measures have shifted the market dynamics, posing challenges to licensed operators while raising concerns about regulatory effectiveness.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.