Entain, Parent of partypoker and Half-Owner of BetMGM, Cuts 400 More Jobs

Entain, the gambling group that owns partypoker and holds a 50% stake in BetMGM, is cutting 400 jobs, according to CardPlayer. The reduction follows a previous round of 500 layoffs at the company and comes as the United Kingdom raises taxes on online gambling operators.

The UK increased its tax rate on online casino operators from 21% to 40% in April, with a separate hike on online sports betting set to take the rate from 15% to 25% in April 2027, CardPlayer reports. Entain also warned that roughly 1,000 betting shops across the country could close as a result.

CardPlayer reports that Entain has estimated the new tax structure could add about £100 million to its annual tax bill. CEO Stella David pointed to modelling from Ernst & Young on the potential fallout from a 40% machine games duty rate.

“Independent modelling from EY (Ernst & Young) shows the potential consequences across the sector, indicating that a 40% MGD (machine games duty) rate could lead to up to 1,470 betting shop closures and 15,900 job losses, and ultimately result in a net loss to the Exchequer of around £120 million,” David said.

Other Operators Tied to US Poker Feel the Squeeze

Entain is not alone. The Betting and Gaming Council estimates the industry has shed around 4,500 jobs since the tax changes were approved, according to The Telegraph as cited by CardPlayer.

Evoke, the parent company of William Hill and 888poker, plans to close about 270 betting shops nationwide. Bet365 is cutting up to 300 jobs at its UK headquarters plus another 40 across offices in Gibraltar and Malta, citing what a company representative described as “tax-related costs.”

Flutter Entertainment, the parent of PokerStars, eliminated 100 positions in July as part of a broader restructuring. The company said at the time it was “communicating with those impacted as part of the process.”

The cuts at Entain carry weight for US online poker players because the company’s BetMGM stake links it directly to one of the country’s largest regulated poker brands, even as the layoffs themselves are unfolding entirely within Entain’s UK and European operations.