Bank of America has downgraded its ratings on major sports betting platforms, DraftKings and Flutter, moving both to a “neutral” rating as a result of uncertainty around...
Flutter plans 200 job cuts in the UK and Ireland
Flutter Entertainment has announced its plan for 200 job cuts across the UK and Ireland as it prepares for major changes to its technology platform.
Flutter cited rising costs and new regulatory challenges as the main reasons for the restructuring. While details are still being finalized, most of the affected roles are likely in Flutter’s technology and product teams, with the Leeds office expected to receive the biggest wave of cuts. Meanwhile, in Dublin, fewer than 10 roles are expected to be cut.
The Flutter spokesperson said:
“As part of a broader strategy to bring some of our brands onto a single tech platform – and against the backdrop of increasing cost and regulatory pressure – we have entered into consultation with a number of colleagues. While we are working with those affected to explore redeployment opportunities wherever possible, it is likely that some roles will regrettably become redundant later this year.”
Flutter’s 2025: A look so far
Flutter has faced a tough few months. It lost out on an important Italian Lotto license to rival IGT, and its latest earnings fell short of expectations. Revenue grew nearly 8% to $3.67 billion, but earnings per share were lower than expected.
While the company raised its full-year revenue forecast to $17.08B, it lowered expectations for its U.S. business by $280 million. A new betting tax in Illinois has also forced Flutter to pass on costs to customers through surcharges, a move that could risk losing players to unregulated gambling sites.
Flutter Entertainment has appointed Dyego Cabral de Jesus as a new Head of Compliance for Flutter Brazil.
De Jesus began his journey with Flutter in 2021 as a compliance...
