Flutter Plans 1,400 Job Cuts As UK Gambling Taxes Rise

Flutter expects UK gambling tax increases to cut adjusted EBITDA by $540 million in 2027 before mitigation. The FanDuel and Paddy Power parent now plans up to 1,400 redundancies across its UK and Ireland business.

Good To Know

• The proposed cuts affect roughly 16% of the division, subject to consultation.
• Flutter expects restructuring costs of $80 million to $90 million in Q4 2026.
• Online betting faces a further UK tax increase in April 2027.

Flutter has already outlined $201 million in initial mitigation against the projected tax impact. Even after those savings, the figures leave a $339 million earnings hit before further measures.

Meanwhile, the company intends to protect investment in its customer offering while reducing staffing costs. Affected locations include Leeds and Dublin, plus teams supporting the division in Porto, Portugal, and Cluj-Napoca, Romania. Flutter has not identified individual roles.

The division employs 9,000 people, compared with 28,500 across Flutter globally.

Higher UK Gambling Taxes Change The Economics

Remote Gaming Duty rose from 21% to 40% in April 2026. The online betting rate will then increase from 15% to 25% in April 2027, excluding UK horse racing bets.

Those duties apply to operator gambling profits rather than total customer stakes, a distinction that helps explain why revenue growth alone cannot offset the increase.

Kevin Harrington, CEO of Flutter UK and Ireland, said:

“As we warned a year ago, we cannot fully absorb a rise of this magnitude without reducing our fixed cost base and therefore must restructure our business so that we can best position ourselves for the future.” 

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