Global Gambling Giant Restructures European Hubs as Sector Responds to Tax Hikes and Shop Closures Across the UK
Online gambling operator bet365 has announced plans to cut approximately 340 jobs across its business, representing roughly three percent of its global workforce. The company cited a challenging competitive trading environment alongside escalating regulatory and tax-related operational costs as the primary drivers behind the restructuring.
The layoffs will predominantly impact the company’s headquarters in Stoke-on-Trent, where about 300 roles are at risk, with the remaining 40 positions affected across its Gibraltar and Malta offices. bet365 currently employs around 10,000 people globally, including 5,500 based in Stoke. The company has stated it is exploring all avenues to minimize redundancies, beginning with a voluntary redundancy program and offering full support to affected staff.
Industry-Wide Impact of Regulatory and Fiscal Changes
The announcement comes against a backdrop of mounting financial pressures on the UK gambling sector, spurred by budget measures that nearly doubled remote gaming duty to 40 percent and scheduled increases to remote betting duty. Additional industry concerns have been raised regarding potential hikes to machine games duty, which trade bodies estimate could trigger thousands of betting shop closures and significantly impact British racing contributions.
Major operators have responded to these fiscal shifts with widespread contraction. William Hill previously announced plans to close 270 betting shops, Betfred slated 132 shop closures impacting around 600 jobs, and Paddy Power revealed further closures affecting hundreds of roles. The Betting and Gaming Council estimates that cumulative pressures will result in over 600 betting shop closures and 5,000 job losses by the end of 2026.
Executive Insights and Stakeholder Reactions
A spokesperson for bet365 commented on the structural changes:
“As an international business, we continually review and assess our operations to ensure the business’ long-term future. We’re currently facing a highly competitive trading environment, plus increased regulatory and tax-related costs. As a result we’re restructuring some of our locations this year. Ultimately, this will result in a reduction of approximately 340 roles across our European hubs, which is the equivalent of around three per cent of the workforce. We’re committed to minimising the impact on our people and are exploring all avenues to reduce the number of redundancies. As a first step, we’re planning a programme of voluntary redundancies. Our colleagues are our priority. We understand the concerns many will have. Impacted staff have been informed and are being fully supported throughout this process.”
Gareth Snell, Labour MP for Stoke-on-Trent Central, emphasized the local significance of the cuts:
“These are well-paid jobs in an area of the country that needs investment. Bet365 is an internationally successful company built from the ground up in Stoke-on-Trent.”
Grainne Hurst, Chief Executive of the Betting and Gaming Council, added:
“The government must now rule out any further tax rises on the sector. Ministers should instead pursue an evidence-led approach which protects jobs, investment and the regulated market, rather than handing an advantage to the unsafe, unregulated illegal gambling market.”
