Flutter to Cut 1,400 Jobs Over Betting Tax Rises
Flutter Entertainment plans up to 1,400 redundancies, citing new gambling duties.
Key facts
- Flutter announced up to 1,400 job cuts, according to BBC.
- Cuts will affect staff in Leeds, Dublin, Sunderland, Portugal, Romania, Malta, and Gibraltar, per BBC.
- Flutter said the tax hikes have "fundamentally changed" the economic model, per BBC.
- Guardian reported Flutter blamed a material increase in betting and gaming duties announced by Rachel Reeves, per Guardian.
- Flutter expects a one‑off hit of $90m from the redundancy round, per Guardian.
Flutter Entertainment announced plans to cut up to 1,400 jobs, citing rising betting taxes, according to BBC.
The company said the cuts would target staff in Leeds, Dublin, Sunderland, Portugal, Romania, Malta, and Gibraltar, per BBC.
Flutter stated that the tax rises have "fundamentally changed" the economic model of the UK betting and gaming industry, and that it cannot fully absorb the increase without reducing fixed costs, per BBC.
Guardian reported that Flutter blamed a material increase in betting and gaming duties announced in the 2025 autumn budget, and that the company expects a $90m hit from the redundancy round, per Guardian.
Context
The UK government raised remote gaming duty from 21% to 40% and online sports bet duty from 15% to 25% in last year’s budget. Flutter owns Paddy Power, Sky Bet, and Betfair, and employs 28,500 people worldwide. The tax increases are the main reason cited for the job cuts.
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