SBC News Voice of the Sports Betting Industry
More than 200 jobs have become at threat at Flutter Entertainment, owner of well-known Irish betting brand Paddy Power.
The move would come as part of a broader strategy to bring its brands on to a single tech platform, although it has not yet been confirmed whereabouts in Britain and Ireland the redundancies will directly impact.
The Racing Post has however suggested that Wellington Place headquarters in Leeds is likely to take the vast majority of job losses, as well as a handful in Dublin.
A spokesperson for the NYSE gambling group explained: “Against the backdrop of increasing cost and regulatory pressure – we have entered into consultation with a number of colleagues.
“While we are working with those affected to explore redeployment opportunities wherever possible, it is likely that some roles will regrettably become redundant later this year.”
Importantly, the brand has assured that it is working with those affected to explore redeployment opportunities wherever possible. It stated that some roles will likely become redundant later in 2025.
It was only in February this year that reports circulated about Flutter putting 183 staff at risk of redundancy as it planned to cut trading operations. The operating landscape has changed to such a degree over the past few years that moves of this kind are becoming increasingly common.
Business remains strong
Interestingly, Flutter, which is currently in the process of moving Sky Bet to the Paddy Power Betfair platform, reported revenue of $882m (£653m) for the first quarter of the year. The firm employs 27,345 people globally with 32% of these being in the UK and Ireland.
Its recent Q1 trading report however cemented the US as the primary focus market, and with good reason given the huge revenues the group is generating from the world’s largest economy.
This was made more apparent in a letter to shareholders signed off by Peter Jackson, the firm’s CEO, which focused heavily on US developments and the upgrades being made to the FanDuel sportsbook.
Other notable brands that Flutter Entertainment also operates include; Sky Betting & Gaming, Sportsbet, PokerStars, Paddy Power, Sisal, tombola, Betfair, TVG, Junglee Games and Adjarabet.
