Partypoker's Parent Company Entain Announces Major Layoffs Amid Tax Hikes

Entain, the parent company of partypoker, has announced plans to eliminate 400 jobs following a previous round of 500 layoffs. This decision comes as UK gaming operators face increased taxes, with the tax on online casino operators rising from 21% to 40% in April and the tax on online sports betting set to jump from 15% to 25% in April 2027. The industry has already shed around 4,500 jobs since the tax plan was approved.

Entain CEO Stella David expressed concern over the new taxes, stating that they could mean an additional £100 million tax bill for the company. She cited independent modeling from EY (Ernst & Young) which shows that a 40% MGD (machine games duty) rate could lead to up to 1,470 betting shop closures and 15,900 job losses, ultimately resulting in a net loss to the Exchequer of around £120 million.

Other operators are also feeling the impact. Evoke, the parent company of William Hill and 888poker, planned to close around 270 betting shops. Bet365 is laying off up to 300 employees at its UK headquarters, with another 40 cut at offices in Gibraltar and Malta. PokerStars parent Flutter Entertainment eliminated 100 positions in July as part of a larger restructuring effort.