Flutter To Cut Up To 1,400 UK And Ireland Jobs Over Gaming Tax
Flutter Entertainment, the owner of Paddy Power, Sky Bet and Betfair, announced plans to cut up to 1,400 jobs in its UK and Ireland business on October 20, 2026.
The company said the restructure responds to the increase in UK gaming taxes announced in the Autumn Budget last year, and that the plans remain subject to consultation.
Flutter employs 28,500 people globally, including 9,000 in the UK and Ireland. Its UK brands include Paddy Power, Sky Bet and Betfair, and our UK betting sites guide covers the wider market.
Where The Cuts Would Fall
In its press release, Flutter said the decision will affect colleagues in several locations, including Leeds, UK, and Dublin, Ireland.
UK and Ireland staff based at Flutter hubs in Porto, Portugal and Cluj-Napoca, Romania, are also included.
The company described 1,400 as the upper limit of expected redundancies.
The final number will depend on the consultation process.
Cost Of The Restructure
Flutter said the associated costs of $80m to $90m were already reflected in the updated guidance issued with its second-quarter 2026 earnings.
It expects to incur them in the fourth quarter of 2026.
The company said the restructure forms part of the first-order cost mitigation it had already guided for.
It expects the plan to deliver material second-order mitigation benefits by preserving investment in its customer proposition, which underpins its confidence in gaining market share.
The Tax Changes Behind It
Flutter's release sets out the tax rises it is responding to. The tax on iGaming rose by 19 percentage points to 40 per cent from April 2026.
Tax on sports betting, excluding horseracing, rises 10 percentage points to 25 per cent from April 2027.
According to the company, the total adjusted EBITDA impact of the UK iGaming tax changes in 2027 is $540m.
It expects to offset $201m of that with first-order mitigation. At its second-quarter update, Flutter also raised its guidance for restructuring, transaction and integration costs to $500m.
Flutter UK And Ireland Chief Executive Responds
Kevin Harrington, Chief Executive of Flutter UK and Ireland, said his immediate focus is on supporting the affected colleagues through what he called a difficult period.
He said the increase in betting and gaming duties has fundamentally changed the economic model of the regulated UK industry and is helping to fuel the unlicensed, unregulated market.
Harrington added that Flutter had warned a year ago it could not fully absorb a rise of this size without cutting its fixed cost base.
He said the company remains confident it can gain share as the largest operator in the UK by scale.
What To Watch Next
The consultation with affected staff will determine how many of the 1,400 roles go and where.
Flutter has said it continues to expect the tax increases to have a very significant impact on the overall market.
Follow further reaction from operators and the industry in our UK gambling news section.
