Flutter Entertainment’s UKI business has announced that it will be closing almost 60 Paddy Power shops across the UK and Ireland within the next month, as retail difficulties continue to escalate.
The operator noted that the closures are taking place due to costs increasing and market conditions being challenging, following a review of its high street estate.
In total, 57 Paddy Power shops will be closed; 28 shops in the UK, 28 shops in Ireland and one shop in Northern Ireland, with Flutter UKI confirming to SBC News that 247 jobs are at risk, some 128 in the UK.
While the closures will lead to several job losses, employees who have been impacted are being offered support and redeployment opportunities elsewhere, where possible.
“In light of increasing cost pressures and challenging market conditions, we can confirm that we will be closing 29 shops across the UK (including one in NI) and 28 in Ireland within the next month,” said a Flutter UKI spokesperson.
“We are continually reviewing our high street estate, but it remains a key part of our offer to customers, and we are seeking to innovate and invest where we can as we adapt to different customer trends and needs.”
Flutter will report its financial performance for the third quarter of 2025 next month on 12 November. Back in August, the operator declared a Q2 revenue for its UKI operations of $936m (Q2 2024: $928m).
Gambling tax
Flutter UKI’s decision to close Paddy Power shops may soon be felt across the UK market, as speculation continues to escalate over gambling tax increases.
Plenty of the operator’s competitors have provided their opinions on the possible gambling tax increase, including Entain, evoke and Rank Group.
Entain has stated that they will have to reevaluate their investment strategy in the UK market if the gambling tax is increased, while evoke has said it could close between 120 and 200 William Hill shops, with up to 1,500 jobs at risk.
Rank Chief Executive John O’Reilly claimed the operator has been in talks with the Treasury about how its operations could be impacted by the potential tax increase.
O’Reilly said: “Speculation regarding tax changes in the upcoming budget is, inevitably, hanging over the business. We are engaged with the Treasury on the implications of tax changes on the viability of our venues, employment levels, future investment and the customer.
“Last year the group generated £44.6m in profit after tax, having paid HMRC and local authorities £188m in taxes. The Rank Group, with its strong UK focus, is certainly paying its fair share.”
