Flutter Entertainment has informed Paddy Power employees that 247 jobs are at risk after the Dublin-based firm tabled plans to shutter 57 of its UK subsidiary’s retail sportsbooks.
almost 10% of PP’s 608 licensed sportsbooks
Flutter broke the news to PP staff a day before it publicly announced the closures on Wednesday. Flutter plans to close 28 PP sportsbooks in the Republic of Ireland, one in Northern Ireland, and 28 in the UK. According to the Racing Post, the 57 closures across both islands represent almost 10% of PP’s 608 licensed sportsbooks.
William Hill parent Evoke last week announced the possibility of shuttering up to 200 retail sportsbooks, while Ladbrokes/Coral owner Entain revealed it was mulling closures across its estimated 2,300 retail sportsbooks.
While the closure warnings from Evoke and Entain were attributed to the expected gambling tax hike in the UK autumn budget, Flutter said its PP shutterings were not directly tax-rise related.
A Flutter spokesperson, however, acknowledged “a higher gambling tax could have a significant impact on jobs and investment across the industry.”
Dublin Live cited a Flutter UK and Ireland spokesperson who gave “increasing cost pressures and challenging market conditions” as factors behind the confirmed 57 sportsbook closures. While Paddy Power is known mostly as a leading sports betting brand, it has bolstered its online casino vertical via a portfolio of popular games, such as Paddy Power Gold Megaways from Red Tiger Gaming.
