Flutter Entertainment, owner of Paddy Power, is planning to lay off up to 1,400 employees in the UK and Ireland due to increased gaming taxes. The company cites the rise in Remote Gaming duty to 40% and general betting duty to 25% as the primary reasons for the job cuts.
Flutter Entertainment is restructuring its UK & Ireland business due to increased gaming taxes, leading to potential job cuts. The company expects significant cost savings and market share gains.
The Betting and Gaming Council warns that a proposed tax increase could threaten thousands of jobs. Meanwhile, the CFTC refines rules for prediction markets.
The Betting and Gaming Council (BGC) has issued a stark warning about the potential impact of a proposed tax increase on machine games in Britain, stating that it could lead to widespread venue closures and job losses. The industry contributes significantly to the economy and employs thousands of people.
After nine years, Betfred has decided to end its support for the Super League, citing increasing regulatory pressures and tax hikes.
Entain has announced a consultation process that could lead to the removal of up to 400 customer care roles due to increasing tax pressures. The company aims to remain competitive and financially stable.