Flutter is to restructure its UK & Ireland business. This restructuring forms part of the already guided first-order cost mitigationin response to the significant increase in UK gaming taxation announced in last year’s Autumn Budget by the UK Government.

Whilst these plans will be subject to consultation, it is expected to result in up to 1,400 redundancies. The decision will impact colleagues in a number of locations including Leeds, UK and Dublin, Ireland as well as UK & Ireland staff at Flutter hubs including Porto, Portugal and Cluj-Napoca, Romania.

We continue to expect these tax increases to have a very significant impact on the overall market. The restructure announced today is expected to support Flutter in delivering material second order mitigation benefits, by preserving investment in our customer proposition, and underpins our confidence in our ability to gain share.

The associated costs to implement this restructuring of $80m – $90m were captured within the updated guidance issued within Flutter’s Q2 earnings update and will be incurred in Q4 2026. Flutter employs 28,500 people globally including 9,000 who work in the UK & Ireland business.

Kevin Harrington, Flutter UK & Ireland, Chief Executive, commented: “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.

“The material increase in betting and gaming duties announced in the UK Budget last year has fundamentally changed the economic model of the regulated betting and gaming industry in the UK while helping to fuel the unlicensed, unregulated market.

“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. We remain confident that we are well placed to benefit from share gains given our position as the largest scale operator in the UK.”