Reports have emerged that 220 jobs will go across Flutter Entertainment‘s business operations in the UK and Ireland.
According to The Irish Times, the roles at risk are part of a wider strategy for the operator to migrate its brands onto a single tech platform and “against the backdrop of increasing cost and regulatory pressure”.
There is no clarification as to which departments will be impacted. However, the report states that almost all of the job cuts are expected to occur at Flutter’s Leeds operation, with most technology and product team roles being at risk.
Meanwhile, the company’s Dublin operations are expected to see fewer than 10 redundancies.
UPDATE: iGaming Expert understands that 220 jobs will go across Flutter’s UK and Ireland operations, following a consultation process which began on Tuesday earlier this week. The number of staff at risk is understood to be higher.
A Flutter UKI spokesperson told iGaming Expert: “As part of a broader strategy to bring some of our brands onto a single tech platform – and 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.”
2025 guidance and Illinois
Last month, as part of its financial report for the first quarter of the year, Flutter updated its guidance for 2025 to better reflect US sports results, foreign currency movements and the anticipated contributions from its Snai and NSX acquisitions.
Here, the company raised its guidance for the year, increasing revenue and adjusted EBITDA by $1.07bn and $120m, respectively.
Group revenue had a midpoint of $17.08bn, a 22% year-over-year increase, while adjusted EBITDA had a midpoint of $3.18bn, a 35% uptick. Before including the Snai and NSX acquisitions, revenue growth was expected to be 14%, while adjusted EBITDA growth would have been 30%.
US revenue and adjusted EBITDA had midpoints of $7.4bn and $1.13bn, respectively, while international revenue and adjusted EBITDA had midpoints of $9.68bn and $2.3bn, respectively.
Flutter also announced recently that it will be charging a 50-cent transaction fee on each bet placed by its customers in Illinois due to a new per-wager tax set to be implemented in the US state on 1 July.
For the first 200 million bets per year, operators in the state will be charged 25 cents per wager taken. Over 200 million, the charge increases to 50 cents per bet.
In a statement responding to the decision by the Illinois legislature, Flutter CEO Peter Jackson called the measure taken by the state “punishing”.
“It is important to recognise that there is an optimal level for gaming tax rates that enables operators to provide the best experience for customers, maximise market growth and maximise revenue for states over time,” said Jackson.
“We are disappointed that the Illinois Transaction Fee will disproportionately impact lower wagering recreational customers while also punishing those operators who have invested the most to grow the online regulated market in the state.
“We also believe the introduction of the Illinois Transaction Fee will likely motivate some Illinois-based customers to bet with unregulated operators. These operators do not contribute tax revenue to the state, will not collect the newly announced transaction fee and do not offer the same levels of customer protection that regulated operators provide.”
Flutter is scheduled to publish its financials for the second quarter on 7 August.
