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Flutter Entertainment, the parent company of U.S. iGaming giant FanDuel, plans to restructure its UK & Ireland business with up to 1,400 jobs lost, subject to consultation.
The company attributes the move to higher UK gaming taxes announced in the 2025 Autumn Budget.
Flutter reports earnings on Nov. 4 and could share more information then.
Proposed cuts affect four locations
Flutter announced the plans on Tuesday, saying the decision will affect colleagues in Leeds, Dublin, Porto and Cluj-Napoca.
The company employs 28,500 people globally, including 9,000 in its UK & Ireland business.
Kevin Harrington, chief executive of Flutter UK & Ireland, said the increase in betting and gaming duties had fundamentally changed the economics of the regulated UK industry.
“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,” Harrington said.
He also emphasized support for employees affected by the plans.
“My immediate focus is providing the necessary support for all of our impacted colleagues and guiding our teams through what we know is going to be a difficult and challenging period for all concerned,” he said.
Implementation will cost FanDuel parent an estimated $80–$90 Million
Flutter estimates the restructuring will cost $80 million to $90 million to implement. Those costs are expected to be incurred in the fourth quarter of 2026 and were included in updated guidance issued with its second-quarter earnings update.
The company said the restructuring would support additional cost mitigation and help preserve investment in its customer proposition. It also expressed confidence in gaining market share, with Harrington citing Flutter’s position as the UK’s largest-scale operator.
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Source: As reported by flutter.com.
