Paddy Power To Shut 57 Shops In UK And Ireland With Practically 250 Jobs

Paddy Power is to shut 57 wagering shops across the UK and Ireland, putting nearly 250 workers at risk.


Parent firm Flutter, which likewise owns Betfair and Sky Bet, blamed the closures on "increasing expense pressures and challenging market conditions".


It informed personnel on Wednesday that it will shut 29 UK shops, including one in Northern Ireland, and 28 in the Republic of Ireland.


While today's closures are not straight associated to the unpredictability surrounding the Budget, a greater gaming tax might have a considerable influence on tasks and financial investment across the market and drive more customers into open arms of unlicensed operators on the unlawful, black market


Flutter UK and Ireland spokesperson


It will shut the websites within the next month following a review of its high street shop estate.


The business said 247 will be at danger of redundancy as a result, including 128 in the UK.


Staff impacted by the strategies will "be used redeployment opportunities where possible, however, the closures will regrettably result in a number of task losses", the company stated.


Paddy Power is to shut lots of betting stores across the UK and Ireland (John Walton/PA)


A Flutter UK and Ireland spokesman stated: "We are continually examining our high street estate, however it remains a key part of our offer to clients, and we are looking for to innovate and invest where we can as we adapt to various client trends and needs."


It comes in the middle of a backdrop of concern in the sector over speculation that the Labour Government will increase betting taxes in next month's autumn Budget.


The business stated the decision was not directly due to tax pressures however advised the Government to guide away from additional procedures on the sector.


The spokesman added: "While today's closures are not directly related to the unpredictability surrounding the Budget, a higher betting tax could have a considerable impact on jobs and financial investment throughout the industry and drive more consumers into open arms of unlicensed operators on the illegal, black market."


William Hill owner Evoke stated earlier this week that it is thinking about "further shop closures" if it is affected by further tax boosts in the UK.