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UK Tax Reform Result: Flutter Puts 1,400 Jobs on the Chopping Block

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Pessi Lamm 45 seconds ago

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Flutter plans up to 1,400 job cuts in the UK and Ireland following government gambling tax increases.
The restructuring will cost $80–90 million, with new taxes set to reduce 2027 EBITDA by $540 million.
Industry rivals are also cutting costs, highlighting widespread impact from the tax hikes.

The UK taxman takes a bigger slice, and Flutter sharpens the scissors. Up to 1,400 jobs are on the chopping block as gambling duties rise.

The UK government wants more money out of gambling. Flutter has done the maths, and the calculator isn't looking pretty.

The gambling giant behind PokerStars, Paddy Power, Betfair and Sky Bet plans to cut up to 1,400 jobs across its UK and Ireland business. The announcement landed on October 20, with the government's tax rises blamed for the pressure on the company's books.

"As we warned a year ago, we cannot fully absorb a rise of this magnitude without reducing our fixed cost base and therefore must restructure our business so that we can best position ourselves for the future...."-Kevin Harrington, Flutter UK & Ireland, Chief Executive

Flutter Counts the Cost

Flutter employs around 9,000 people across the UK and Ireland, so the proposed cuts land on roughly 16% of its workforce. Staff in Leeds and Dublin are among those affected, along with UK and Ireland teams working out of the company hubs in Porto and Cluj-Napoca.

The restructuring itself is expected to cost $80 million to $90 million. Then there's the other number: Flutter estimates the UK tax changes will knock $540 million off adjusted EBITDA in 2027, before mitigation measures. That's the tax bill, not the price of the layoffs.

The damage	Figures
Potential job cuts	1,400
UK and Ireland workforce	9,000
Estimated 2027 EBITDA impact	$540 million
Restructuring costs	80m-90m

The Taxman Wants a Bigger Slice

The new duties are already biting online casinos. Sports betting gets its turn next year.

Gambling duty	Old rate	New rate	Starts
Remote Gaming Duty	21%	40%	April 1, 2026
Remote betting duty, excluding UK horseracing	15%	25%	April 1, 2027

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Who Gets Stuck With the Bill?

The government expects north of £1 billion a year out of this. Its argument: gambling should contribute more to the public purse, and steeper casino duties might discourage the more harmful end of the market.

Flutter, meanwhile, has reached for the scissors. It isn't alone. Entain has announced customer-care job cuts, and Betfred plans to shut 132 betting shops, putting around 600 jobs at risk. Different companies, different maths, same direction of travel.

The proposed cuts remain subject to consultation, so the final number isn't set in stone. The direction of travel, though, is clear enough. The taxman wants a bigger slice, and the industry is hunting for somewhere else to save it.