Ladbrokes and Coral owner Entain will attempt to offset tax increases by cutting 500 jobs across the group.
The online gambling tax rate in the UK increased in April from 21 per cent to 40 per cent, impacting the betting sites and online casinos run by Ladbrokes and Coral. The lay-offs continue Entain’s cost-cutting measures.
The increased pressure of tax raises coincides with heightened competition from prediction market platforms.
Entain expects tax increases will add around £ 200million in annual costs, with hopes that cost cuts across its brands will offset at least 50 per cent of that increase.
According to Entain’s website, the company employs 28,000 people across 35 brands and recorded revenues of £ 5.3 billion in 2025. Operating in 30+ markets, Entain's most prominent brands include Coral and Ladbrokes in the UK, as well as Bwin on the continent.
The news of job cuts follows the sale of shares in its Central and Eastern European arm, Entain CEE.
Last month the operator group sold a 20-per-cent share to its joint-venture partner EMMA Capital for €425million (£362.75million).
Revenue generated from the sale of Entain CEE, valued at €2.1 billion (£1.9billion) prior to the first sale of shares, has been ringfenced to pay off Entain’s existing debts.
Future proceeds from further share sales will again be used to pay down the debts before any profit is returned to shareholders.
As of 31 December 2025, Entertain’s adjusted net debt was £3.64 billion.
