Flutter Entertainment, the global sports betting and gaming giant, is reportedly planning to lay off around 200 employees across its operations in Britain and Ireland. The move comes as part of a broader restructuring effort aimed at streamlining the company’s workforce and reducing costs amid challenging market conditions. Sources indicate that the layoffs will primarily affect roles in retail and customer services, sparking concerns over the impact on local communities and the industry
Flutter Entertainment, the parent company of Paddy Power, is reportedly planning to cut over 200 jobs across the UK and Ireland as part of its strategic move to consolidate multiple brands onto a single, unified technology platform later this year.
Flutter Discusses Potential Mass Layoffs
While Flutter has yet to specify the exact departments affected, it is currently consulting with employees about the redundancies. Industry sources suggest that the majority of the impacted positions will be within the company’s technology and product teams, with the Leeds office expected to bear the brunt of the job cuts. A smaller number-fewer than 10 roles-are anticipated to be affected at the Dublin office.
In an official statement, Flutter cited rising operational costs and mounting regulatory pressures as key drivers behind the decision. The spokesperson confirmed ongoing consultations with impacted staff as part of a broader strategy to streamline Paddy Power’s portfolio onto a single tech infrastructure. Flutter also emphasized its commitment to assisting affected employees with redeployment opportunities where feasible, noting that some roles may only become redundant into 2025.
Flutter’s Recent Performance Overview
The past few months have presented challenges for Flutter, including missed business opportunities. Notably, Flutter recently challenged IGT for the lucrative Italian Lotto license, but IGT remains positioned to retain it, potentially limiting Flutter’s expansion into the Italian market.
Flutter, which also owns the US-focused sportsbook FanDuel, posted mixed financial results recently. Its revenue climbed nearly 8% to $3.67 billion, with adjusted earnings per share coming in at $1.59. The company boosted its full-year revenue forecast by $1.15 billion, bolstered by two recent acquisitions and favorable currency movements. However, the US revenue projection was lowered by $280 million.
Regulatory changes have also weighed on Flutter’s US operations. Following the introduction of a new betting tax in Illinois, Flutter announced that it would pass this cost onto customers. FanDuel, operating under the Flutter umbrella, will implement a surcharge to offset the recent tax changes. While this measure aims to mitigate financial pressures, Flutter has warned that the added cost could drive some customers to unregulated gambling platforms, posing additional challenges ahead.
