Business

Paddy Power cuts 1,400 jobs and blames betting tax rises

BBC Business · 2026-10-20

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• What happened: Paddy Power cuts 1,400 jobs and blames betting tax rises Image source, Getty ImagesPublished12 minutes agoPaddy Power-owner Flutter has announced plans to cut up to 1,400 jobs as its boss claimed the company "cannot fully absorb" tax rises imposed on the gambling industry last year.Staff based in the UK and Ireland, as... • Why it matters: This update may be relevant for Cyprus residents, visitors, businesses or policymakers. • What to watch next: Follow CyprusDailyLife for updates.

Image source, Getty ImagesPublished12 minutes agoPaddy Power-owner Flutter has announced plans to cut up to 1,400 jobs as its boss claimed the company "cannot fully absorb" tax rises imposed on the gambling industry last year.Staff based in the UK and Ireland, as well as British and Irish workers at Flutter's sites in Portugal and Romania will be affected, but what roles are at risk has not been disclosed.The government increased taxes on online casino and sports betting, with an exemption for horse racing, in the Budget last November.Flutter boschief executive Kevin Harrington said the rise had "fundamentally changed" the economic model of the UK betting and gaming industry, arguing it had helped "fuel the unlicensed, unregulated market".Related topicsFlutter EntertainmentCompaniesGamblingSports bettingTax

Source: BBC Business
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