Flutter Entertainment confirmed that nearly one in ten Paddy Power bookmakers shops will close. The announcement came shortly after two other major competitors hinted at similar moves.
The world’s largest gambling operator by market capitalization confirmed to SBC that 57 Paddy Power stores in the UK and Ireland will be closing. However, the exact number of stores is subject to confirmation. It is expected that 28 shops will close in the UK and Ireland, and one in Northern Ireland. According to Flutter, 247 jobs are at risk of being cut – 128 in the UK and 119 in Ireland.
The company also stated that staff were notified of the closures earlier this week and that consultations are ongoing regarding possible changes. Options for transferring employees to other Paddy Power stores are also being considered. However, Flutter emphasized that layoffs are unavoidable.
A Flutter UKI spokesperson said: “In light of increasing cost pressures and challenging market conditions we can confirm that we will be closing 29 shops across the UK (including one in NI) and 28 Ireland within the next month.
“We are continually reviewing our high street estate, but it remains a key part of our offer to customers, and we are seeking to innovate and invest where we can as we adapt to different customer trends and needs.”
Although Flutter is one of the world’s largest gaming groups, its retail presence in the UK and Ireland is limited to the Paddy Power brand. Sky Bet, Betfair, Tombola, and others operate exclusively online.
This means the company has fewer opportunities for staff transfers compared to Entain (Ladbrokes and Coral) – the largest retail bookmaker network in the UK, with about 2,300 shops.
From a financial perspective, Flutter’s UK & Ireland division shows stable, though not particularly impressive, results. In contrast, FanDuel’s performance in the U.S. market is much stronger.
Nevertheless, Flutter’s UK&I revenue for the first half of 2025 rose by only 1% year-over-year – reaching $936 million. These markets account for around 17% of online gaming revenue, indicating that online betting in the UK and Ireland significantly outperforms the retail segment.
This suggests that the benefits of maintaining an extensive retail network do not outweigh the costs – rent, utilities, taxes, media rights, technical maintenance, and salaries.
For comparison, Entain reported a 2% increase in revenue from its Ladbrokes and Coral shops in its third-quarter report. Evoke, the owner of William Hill, also previously noted signs of recovery in the retail sector.
However, a looming factor – the possible increase in gambling taxes in the UK (likely through the consolidation of three types of taxes, which would raise the rate from 15% to 21%) – is causing serious concern.
Both Entain and Evoke have already stated in the press that the tax hike could force them to close shops. In particular, Evoke told The Sunday Times that it might have to close 200 William Hill shops.
The decline of retail betting in the UK has been ongoing for a long time, as more players move online due to convenience and accessibility. Data from the UK Gambling Commission (UKGC) this year showed a 2% decrease in gross gambling yield (GGY) from betting shops, while online betting accounted for 38% of the market compared to 29% for retail – with lotteries making up a significant portion of the latter category.
Thus, the closure of betting shops may have been inevitable even without tax pressure: despite some localized improvements, a portion of outlets remains unprofitable.
Flutter appears to understand market trends, having announced the closure of 57 shops. At the same time, the company is likely exploring new retail formats.
A few weeks ago, Paddy Power opened a betting outlet inside London’s Hippodrome Casino. The company stated then that it plans to test other sports betting space concepts across the UK.
Rupert Elwood, Managing Director of Retail at Paddy Power, commented at the time.“Our market is continually evolving and this incredible partnership with the Hippodrome is a brilliant example of how we will invest in new concepts to broaden our reach and react to changing demand.”
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