Entain to cut 500 jobs across global markets
The gambling operator expects to cut roles across corporate functions, product and technology.
UK.- Entain has confirmed plans to cut around 500 jobs as part of a restructuring programme. The layoffs, reported by Reuters and Bloomberg, represent roughly 2 per cent of the global workforce at the London-listed operator of Ladbrokes and Coral.
The move follows the rise in British Remote Gaming Duty from 21 to 40 per cent in April. Like most major operators, Entain said it hoped to absorb the tax hike, although it estimated that it would add about £200m to yearly costs.
Although chief executive Stella David said in March that no job cuts at Entain were planned, it’s now expected that roles will be eliminated across corporate functions, product and technology in various global markets, not just the UK.
The company said in a statement: “As part of our ongoing focus on enhancing Entain’s operational efficiency and agility, we have begun implementing organisational changes which will regrettably impact a number of roles across the group over the months ahead.
“These changes will help make Entain a stronger, better business and are a further demonstration of our strategic focus on maximising shareholder value. We are consulting with all those affected to support them during this process.”
Rank Group recently shared an update ahead of its full-year earnings forecasting, revealing that job cuts have allowed it to increase its operating profit despite the impact of the tax rise in the last quarter. Flutter Entertainment, owner of Paddy Power and Betfair, also confirmed layoffs earlier this year, while William Hill parent Evoke announced marketing cuts ahead of an acquisition offer from Bally’s Intralot.
Entain has already agreed to sell a 20 per cent stake in Entain CEE to joint venture partner EMMA Capital for €425m, marking the first stage of a phased exit from the region. The company also closed a number of Ladbrokes shops in Ireland earlier this year.
The operator’s debt was £3.64bn at the end of 2025, nearly equalling its market capitalisation of £3.68bn. Shares have fallen 41 per cent over the past 12 months, today trading down 1.5 per cent at £5.59.
