Paddy Power to shut almost 60 shops putting 250 jobs at risk

Bookmaker blames challenging market conditions for decision to close one in ten stores

The company will shut 28 shops in Ireland, one in Northern Ireland and 28 in the UK. Picture: Denis Minihane.

Bookmaker Paddy Power is to close 57 betting shops across Ireland and the UK, with almost 250 staff facing redundancy.

Parent company Flutter UKI confirmed its intention to shut 28 shops in Ireland, one in Northern Ireland and 28 in the UK.

They said the decision was made following a review of its high street estate.

The company said impacted workers will be offered redeployment opportunities where possible but the closures will lead to a number of job losses. The company said it is now consulting with staff and will provide support to those affected.

A Flutter UKI spokesperson said: “In light of increasing cost pressures and challenging market conditions, we can confirm that we will be closing 28 shops across Ireland within the next month."

"We are continually reviewing our high street estate, but it remains a key part of our offer to customers, and we are seeking to innovate and invest where we can as we adapt to different customer trends and needs.”

Flutter is the world's largest betting company and includes other brands, Betfair, Sky Betting and FanDuel in the US. Last year, the company said 91% of its revenues came its online operations.

Data from the Revenue, based on Betting Duty receipts, shows €2.3bn in bets were placed through traditional locations such as shops and trackside last year in Ireland, while €3bn was placed in bets online. The covid-related lockdowns of sporting events and the closure of betting shops led to a surge in online gambling, with online receipts remaining above traditional methods since then.