Entain Announces 500 Job Cuts Amid Operational Restructuring

Entain, one of the most influential gambling companies in the world, has confirmed plans to cut as many as 500 positions. Some employees have already been let go before the news broke on Thursday, July 16, with more to be released as per Entain’s planned round of cuts. These positions are eliminated to allow the company to emerge stronger and better adapted to the changing iGaming and betting landscape, which is where its core business lies.

Entain has denied that the job cuts were a result of recent gambling tax hikes in the United Kingdom. Instead, the company is undergoing a restructuring that is meant to optimize the firm and allow it to emerge better-adapted for the challenges that the industry presents today - in terms of regulation, technology, and scale.

The company has also been seeking to slash costs to cover debt and streamline its finances. One such move was the confirmed 20% stake sale of the company’s Central and Eastern European joint venture to partner EMMA Capital. The proceeds from the sale, estimated at €425m, will be used to cover debt.