{"id":113998,"date":"2025-10-16T11:15:00","date_gmt":"2025-10-16T10:15:00","guid":{"rendered":"https:\/\/en.econostrum.info\/uk\/?p=113998"},"modified":"2025-10-16T10:48:34","modified_gmt":"2025-10-16T09:48:34","slug":"high-street-giant-to-shut-57-stores","status":"publish","type":"post","link":"https:\/\/en.econostrum.info\/uk\/high-street-giant-to-shut-57-stores\/","title":{"rendered":"High Street Giant to Shut 57 Stores\u2014Impacting UK and Irish Jobs as Tax Hikes Loom"},"content":{"rendered":"\n

Paddy Power, part of Flutter Entertainment, has announced the closure of 57 betting shops <\/strong>across the UK and Ireland, a move that will put 247 jobs at risk<\/strong>. The closures, representing around 10% of the company\u2019s total estate, come at a time when the gambling sector is facing increasing pressure from the government. While the closures are part of a regular review, concerns are mounting over potential tax hikes in next month\u2019s UK Autumn Budget.<\/p>\n\n\n\n

The closures, which will affect both British and Irish locations, have raised alarms within the betting industry, with leaders warning of significant financial consequences. The closures are symptomatic of a larger decline <\/strong>in the number of betting shops across the region, as operators grapple with rising taxes and changing consumer trends.<\/p>\n\n\n\n

Impact of Government Tax Plans on Betting Industry<\/h2>\n\n\n\n

According to a spokesperson for Flutter Entertainment, the 57 closures are not directly linked to the potential tax increases<\/strong> in the upcoming budget<\/a>, but the company has expressed concern about the broader economic impact of higher gambling duties. With the UK government considering tax hikes as part of an effort to ensure betting companies<\/strong> \u201cpay their fair share,\u201d the sector is bracing for a more challenging financial landscape.<\/p>\n\n\n\n

Labour MPs have already voiced their support for higher taxes on the gambling sector<\/a>, including a potential increase in betting duties to as much as 50%<\/strong>. While this proposal has garnered significant backing, industry leaders warn that such measures could push more customers towards unlicensed, illegal operators. Greg Knight<\/strong>, managing director of Jenningsbet, called the potential tax increases \u201cthe death knell\u201d for high street bookmakers and racing, stressing the risks posed to both sectors by the rising financial burden.<\/p>\n\n\n\n

Declining Numbers of Betting Shops Across the UK and Ireland<\/h2>\n\n\n\n

The number of betting shops in the UK and Ireland has already fallen sharply in recent years. Since 2017, the overall estate has shrunk by a third, from nearly 10,000<\/strong> to just over 6,600<\/strong> locations. As competition intensifies and consumer habits shift, many operators, including William Hill and Entain (owner of Ladbrokes and Coral), have announced similar plans to reduce their high street footprint.<\/p>\n\n\n\n

The closures have broader implications for the UK\u2019s horse racing industry, which relies on betting shop revenues from media rights and levy payments. As these businesses close their doors, concerns about funding for British racing<\/strong> and its ability to remain competitive have begun to surface. The combination of declining shop numbers and rising taxes presents a double challenge for the betting sector, with the long-term sustainability of traditional high street bookmakers under increasing scrutiny.<\/p>\n\n\n\n

While Flutter Entertainment<\/strong> has promised to redeploy staff where possible, the closures will inevitably result in job losses. With uncertainty over the future of the betting landscape, the sector\u2019s ability to navigate the challenges ahead remains in question.<\/p>\n","protected":false},"excerpt":{"rendered":"

Major high street chain is closing 57 of its shops across the UK and Ireland, risking the livelihoods of nearly 250 employees. This decision follows the company\u2019s ongoing review of its operations.<\/p>\n","protected":false},"author":10,"featured_media":114008,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[44],"tags":[],"class_list":["post-113998","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33","no-featured-image-padding"],"_links":{"self":[{"href":"https:\/\/en.econostrum.info\/uk\/wp-json\/wp\/v2\/posts\/113998","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/en.econostrum.info\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.econostrum.info\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.econostrum.info\/uk\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/en.econostrum.info\/uk\/wp-json\/wp\/v2\/comments?post=113998"}],"version-history":[{"count":4,"href":"https:\/\/en.econostrum.info\/uk\/wp-json\/wp\/v2\/posts\/113998\/revisions"}],"predecessor-version":[{"id":114009,"href":"https:\/\/en.econostrum.info\/uk\/wp-json\/wp\/v2\/posts\/113998\/revisions\/114009"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.econostrum.info\/uk\/wp-json\/wp\/v2\/media\/114008"}],"wp:attachment":[{"href":"https:\/\/en.econostrum.info\/uk\/wp-json\/wp\/v2\/media?parent=113998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.econostrum.info\/uk\/wp-json\/wp\/v2\/categories?post=113998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.econostrum.info\/uk\/wp-json\/wp\/v2\/tags?post=113998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}