Bookmaker Paddy Power has announced the closure of 28 retail betting shops across Ireland within the next month, putting 119 jobs at risk amid escalating cost pressures and tough market conditions. The decision, revealed by parent company Flutter Entertainment, affects outlets in major cities including Dublin, Cork, and Limerick, as part of a strategic review to streamline operations.
A Flutter UKI spokesperson stated: “In light of increasing cost pressures and challenging market conditions, it will be closing 28 shops across Ireland.”, reports RTE.
The firm highlighted rising rents, energy costs, and regulatory hurdles on fixed-odds betting terminals as key drivers. Despite the cuts, Paddy Power will retain around 200 shops nationwide, emphasizing its commitment to a hybrid retail-online model.
The affected employees—primarily low-wage retail staff—will be offered redeployment options in nearby locations, with support including counselling and severance packages. “We are consulting closely with colleagues and providing support to those affected by these changes,” the spokesperson added.
Unite the Union slammed the move as “a blow to vulnerable workers and high streets already reeling from post-pandemic recovery.” This follows a 2023 closure of 21 shops. Industry experts forecast a 12% decline in Ireland’s €1.4 billion physical betting sector by 2027, driven by digital migration. Paddy Power, a Flutter flagship, saw online revenues surge 25% last year, underscoring the shift.
Consultations begin immediately, with no immediate layoffs planned.
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