Entain has reversed its earlier position on job cuts, with Bloomberg reporting that the betting giant is preparing to shed 500 roles across the group.
The planned redundancies represent roughly 2% of Entain’s total workforce, impacting staff in corporate functions as well as product and technology teams.
Earlier this year, Entain Chief Executive Officer Stella David warned that UK tax increases would hit the company’s bottom line by as much as £200m, but insisted job cuts were not on the agenda.
That assurance has now been walked back, with Bloomberg citing an internal email sent to Entain staff outlining the upcoming changes.
An Entain spokesperson told SBC News: “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.”
The spokesperson added that the changes are designed to make “Entain a stronger, better business” and represent a “further demonstration of our strategic focus on maximising shareholder value.”
Bloomberg’s reporting suggests the cuts are aimed at improving efficiency and delivering on “priorities of growth, margin expansion and cash generation” across the wider organisation.
The redundancies come against a backdrop of rising tax pressure, after remote gaming duty increased from 21% to 40% in April 2026, a move expected to generate £1.1bn in additional annual tax revenue by 2031.
Entain had previously outlined plans to offset more than 50% of the additional costs created by the tax rise through group-wide cost-cutting measures, signalling the scale of financial pressure facing the business.
The company is not alone in feeling the squeeze, with William Hill owner evoke, and Flutter Entertainment, which owns Sky Bet, Paddy Power and Betfair, also announcing marketing budget cuts following the tax hike announcement in November last year.
Flutter subsequently confirmed layoffs within Paddy Power’s marketing team earlier in 2026, reflecting an industry-wide pattern of consolidation and cost reduction in response to the new duty regime.
Entain has also been making structural changes elsewhere, confirming in April that it had closed a number of Irish Ladbrokes stores, though SBC News understands these latest cuts are not retail-related.
Separately, the company announced the sale of its 20% stake in its Central and Eastern European business to EMMA Capital for approximately €425m, though insiders indicate the job cuts are unrelated to that exit.
The company’s financial position adds further context to the redundancy announcement, with Entain carrying a debt burden of £3.64bn at the end of 2025 and a share price that has fallen roughly 40% over the past 12 months to £5.76.
