Paddy 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.
Staff based in Leeds and Dublin, as well as workers for its UK and Ireland business at Flutter’s Portugal and Romania sites, will be most affected, but what roles are at risk has not been disclosed.
The government announced taxes rises on online casino and sports betting, with an exemption for horse racing, in the Budget last year.
Flutter boss Kevin Harrington said the tax hikes had “fundamentally changed” the economic model of the UK betting and gaming industry, arguing it had helped “fuel the unlicensed, unregulated market”.
