Flutter Entertainment has confirmed that as many as 100 Paddy Power betting shops in the UK and Ireland are under review, with approximately 400 jobs at risk of redundancy.
The figure represents about a fifth of the operator’s retail estate in the two markets. The company operates 506 Paddy Power betting offices in total — 310 in the UK and 196 in Ireland — employing more than 2,300 people.
The review follows a prior round of closures announced in October, when 57 outlets were shut. Flutter has not disclosed how the latest closures will be divided between the UK and Ireland.
Redeployment offered as review proceeds
A Flutter UK and Ireland spokesperson said the company would consult with affected employees throughout the process and provide support to those affected, with redeployment opportunities offered where possible.
“We are incredibly proud of our high street estate, and it remains a key part of our business in communities across the UK and Ireland,” the spokesperson said. “Unfortunately, we have had to take the extremely difficult decision to conduct this review.”
The spokesperson attributed the review to rising operating costs and the tax changes announced in the previous UK budget.
“The high street trading environment has been challenging for a number of years given rising costs, fierce competition, economic uncertainty and the shift to online, but we also face a material impact from the higher gambling taxes announced in last year’s UK Budget,” the spokesperson said. “Our immediate priority at this time is to support those colleagues affected by this announcement.”
Then-Chancellor Rachel Reeves nearly doubled the rate of remote gaming duty (RGD) levied on online games of chance in last year’s budget. Flutter has said the change would have a $320 million impact on 2026 earnings before $85 million in mitigation measures.
Earlier this year, the company also restructured Paddy Power’s marketing department, a move it linked to the same RGD increase.
Leadership change follows weak second quarter
The review comes after Flutter’s second-quarter results showed the Paddy Power, Sky Bet and Betfair owner swing to a $296 million loss from a $37 million profit a year earlier. UK and Ireland revenue for the quarter grew 4% year-on-year to $971 million.
Flutter also disclosed that Chief Executive Officer Peter Jackson will depart, to be replaced by Dan Taylor, currently CEO and president of Flutter International.
Jackson said the company has “a very sustainable and clear plan to mitigate the tax changes” and expressed confidence in “substantially increasing UK market share” as smaller operators face pressure from the tax increases.
“We’re going to keep our foot down hard on the marketing and generosity side, and we have other ways that we can help mitigate some of the increase in costs,” he said.
Goodbody gaming and leisure analyst David Brohan said the shop closures form part of that mitigation effort.
“I suspect it won’t be the last of the closures as different leases expire and particularly if MGD increases in the budget,” he said, as reported by the Racing Post. “It might put some pressure on the media rights distributors to lower costs to make the economics of shops more attractive.”
Wider industry retrenchment
Paddy Power joins several other tier-one UK operators that have reduced their retail estates in recent months.
Betfred announced at the end of July that it would close 132 shops, citing tax increases and economic uncertainty. William Hill owner Evoke closed 270 shops following a strategic review prompted by the budget. Entain has also made comparable reductions to its high street presence.
UK retail betting has shown signs of decline according to the Gambling Commission, and betting shops have faced increased political scrutiny in recent weeks.
Prime Minister Andy Burnham has pledged to change the “aim to permit” rule to make it easier for local councils to block new shop openings, grouping betting shops with what he termed “rogue operators” on Britain’s high streets.
Burnham also told the House of Commons that the government had “announced tougher action on vape shops, alongside adult gaming centres and other gambling venues.”
Former Prime Minister Gordon Brown has called for a substantial increase in machine gaming duty (MGD), a proposal that echoes one made by the Social Market Foundation think tank.
British horseracing faces a seven-figure reduction in income as a result of the closures. When Betfred announced its 132 shop closures, the estimated cost to British racing in lost levy and media rights payments was placed at approximately £4 million.
Arena Racing Company Chief Executive Martin Cruddace told a parliamentary reception this week that further tax increases on betting shops could be “truly grave” for racing, stating that “horseracing cannot be collateral damage.”
Original article: https://www.yogonet.com/international/news/2026/09/03/126213-up-to-100-paddy-power-shops-could-face-closure-under-flutter-review
