Flutter, which owns PaddyPower, has announced it will cut 1,400 jobs across Britain today. Thanks to Labour tax hikes…
Roles are going in Leeds, Sunderland, London and Dublin. Flutter UK and Ireland chief executive Kevin Harrington said:
“The industry cannot fully absorb a rise of this magnitude without reducing our fixed cost base… the tax hikes have fundamentally changed the economic model of the regulated betting and gaming industry in the UK while helping to fuel the unlicensed, unregulated market.”
Rachel Reeves raised remote gaming duty from 21% to 40% in her last Budget, and the levy on online sports betting from 15% to 25%. Flutter says the hikes will cost it just over £400 million next year. The black market sends its thanks…
Guido understands as many as 450 jobs are at risk in Leeds, Reeves’s patch. Flutter refused to provide a full breakdown…
The new cuts come on top of 400 jobs going in a review of 100 Paddy Power shops. Across the sector, at least 3,200 job losses have now been announced since the Budget:
The Government insists the high street closures are not its fault. Meanwhile, Prime Minister Burnham wants to “stop unwanted vape and betting shops taking over high streets.” Job done…
Robert Jenrick on the Today programme:
“Can you now give a guarantee to your listeners this morning that no BBC presenter in the future will be exposed as a paedophile, as a number have been in the recent past? No, of course you can’t…”