Flutter To Review Paddy Power Shops Amid Tax Hit
Flutter Entertainment has confirmed that up to 100 Paddy Power shops in the UK and Ireland are "under review", with the company warning that approximately 400 roles could be put at risk of redundancy. The review, first reported by on September 3, 2026, comes weeks after Flutter posted a $296 million net loss for the second quarter, a reversal from the $37 million profit it recorded a year earlier.
A spokesperson for Flutter UK and Ireland said the company had made "the extremely difficult decision to conduct this review" and that any affected staff would be offered "redeployment opportunities where possible". The spokesperson added that Flutter remains "incredibly proud" of its retail estate, which it called "a key part of our business in communities across the UK and Ireland".
The spokesperson pointed to "rising costs, fierce competition, economic uncertainty and the shift to online" alongside "a material impact from the higher gambling taxes announced in last year's UK Budget". The UK's remote gaming duty rose sharply this year, and Flutter's own Q2 2026 earnings release names the increase as one of the drags on International adjusted EBITDA, which fell 19% year over year to $476 million.
Flutter is not alone in trimming its UK footprint. Betting sites across the high street, including other major bookmakers, have closed shops over the past year as retail betting volumes soften nationwide.
The Numbers Behind the Review
Flutter's own Q2 2026 results, published August 5, 2026, show UK and Ireland revenue at $971 million, up 4% year over year, with iGaming revenue within that region growing 7% even as sportsbook revenue fell 2%.
Group-wide, revenue rose 3% to $4.33 billion, but the quarter's net loss reflected a $62 million Junglee Games and Services Tax provision, a $33 million US sales and use tax accrual, and higher interest and depreciation costs tied to recent acquisitions.
Flutter also confirmed a fresh cost-cutting programme targeting $500 million in gross savings by 2029, intended to offset inflation, known tax rises and to free up capacity for further investment. The Paddy Power shop review sits inside that wider plan.
A Leadership Change
The retail review lands alongside a change at the top. Flutter confirmed that CEO Peter Jackson will step down on October 1, 2026, handing over to Dan Taylor, currently President of Flutter and CEO of Flutter International.
Jackson, who has led the business for almost nine years, said in the earnings release that he was confident Taylor "and the leadership team will continue to build on Flutter's success" and that he would support the transition through the third quarter.
Flutter has not set a firm timeline for which shops will close or a completion date for the review. Affected shops are expected to be notified individually once the review concludes, with redeployment offered where possible.
For now, the company says its priority is "to support those colleagues affected by this announcement" as the wider cost-cutting programme continues through the rest of 2026.
