Paddy Power to shut 21 'underperforming' bookies 

Flutter previously closed 15 betting shops across Ireland during the pandemic and footfall was slow to return to pre-covid levels.

Gambling giant Flutter announced it will permanently shutter 21 Paddy Power bookies in the Republic, affecting 78 jobs.

The majority of these workers will be offered jobs “in close proximity to their existing employment” in one of the company’s remaining 230 bookmakers but the betting firm said it anticipates a small number of job losses.

“Whilst the majority of our estate continues to perform well and is growing market share, we have decided to close a number of underperforming shops,” said David Newton, Flutter chief commercial officer.

The betting company said it made the decision to close the shops following a review of its high street estate. The closures comprise a mixture of lease expiries and early terminations.

Flutter said it will continue to invest in its high street estate and the betting and gaming industry.

Nationwide closures

Most of the bookie closures are in Dublin with 10 across the county, while two will close in Tipperary, another two will shut in Cork, and there will be one closure in Galway, Waterford, Kilkenny, Wicklow, Wexford, Kildare and in Ennis.

Flutter previously closed 15 bet shops across Ireland during the pandemic and footfall was slow to return to pre-covid levels.

The company has been largely focusing on growing its business in US in recent years.

Earlier this year, the firm said its US market-leading brand FanDuel reached a “transformation point” and fuelled Flutter’s earnings growth.

In Ireland and the UK, online revenue rose by 14% in the first six months to over €1bn. By the end of June, Flutter reached more than four million average monthly players across Ireland and the UK this year despite cost pressures on households.

Meanwhile, following clampdowns on unethical gambling practices, especially in the UK, the company invested £45m (€52bn) into safer gambling measures across the group in the first half of the year.

Mr Jackson said he “anticipates that we will continue to maintain some of the levels of investment into the second half”.