The gambling operator expects to cut most of the jobs at its main UK office.
Flutter Entertainment, owner of Paddy Power, FanDuel, Sky Betting & Gaming, and PokerStars, is considering job cuts. More than 200 employees could be affected. The operator plans the layoffs as it consolidates its brands onto a single technology platform. It is also responding to rising costs and tighter regulations.
The gambling operator said the move is part of its strategy to cut operational costs in its home markets amid a more complex regulatory environment. For years, the British Gambling Commission has been tightening its rules. Meanwhile, Ireland is introducing a new licensing regime for online gambling under the Gambling Regulatory Authority of Ireland.
According to the Racing Post, most of the layoffs will impact Flutter’s UK offices in Wellington Place, Leeds. Some roles in Dublin will also be affected.
A spokesperson said that, amid rising costs and regulatory pressure, the company has begun consultations with a number of employees. While they are working with those affected to explore redeployment opportunities wherever possible, it is likely that some roles will regrettably become redundant later this year.
Flutter had already outlined plans to cut 183 jobs as it moved to streamline trading operations. Currently, the company employs 27,345 staff globally with almost a third based in the UK and Ireland.
Betfair of Flutter is winding down its affiliate marketing programme for media partners in the United Kingdom and Ireland. It says it will end all affiliate activities in the two countries, as well as removal of related services from Betfair.com from July 1, 2025.
The cuts come after what was a pivotal year for Flutter. Compared to a loss of $1.2 billion in 2023, it posted operating profit for $162 million for the previous year. Revenue was up 19 per cent year-on-year at $14.05 billion, as well as adjusted EBITDA was $2.35 billion. This is a rise of 26 per cent in spite of customer-friendly NFL results in November and December.
