Ladbrokes and Coral owner Entain is cutting 500 jobs across the group as it seeks to offset UK tax rises and mounting competition from prediction markets.
The UK online gambling tax rate increased from 21% to 40% in April, hitting the betting sites and online casinos operated by Ladbrokes and Coral. The job cuts are part of Entain’s ongoing cost-cutting measures.
Tax impact and cost savings
Entain expects the tax increases will add around £200 million in annual costs, and it hopes cost reductions across its brands will offset at least 50% of that increase.
The company employs 28,000 people across 35 brands and recorded revenues of £5.3 billion in 2025. Its most prominent brands include Coral and Ladbrokes in the UK, as well as Bwin in continental Europe.
Sale of stake in Entain CEE
The job cuts follow the sale of shares in its Central and Eastern European arm, Entain CEE. Last month the group sold a 20% stake to its joint-venture partner EMMA Capital for €425 million (£362.75 million).
Revenue from the Entain CEE sale, which was valued at €2.1 billion (£1.9 billion) before the first share sale, has been ringfenced to pay off existing debts. Future proceeds from further share sales will also be used to pay down debts before any profit is returned to shareholders.
As of 31 December 2025, Entain’s adjusted net debt was £3.64 billion.
