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Paddy Power 57 betting shops in the UK and Ireland are to close, putting around 250 staff at risk.
Parent firm Flutter, which is also owned betfair And Sky Bet attributed the closure to “increasing cost pressures and challenging market conditions”.
It told staff on Wednesday it would close 29 UK stores, including one northern irelandand 28 in the Republic of Ireland.
It will close the sites within the next month following a review of its high street store estate.
The company said 247 employees would be at risk of being laid off as a result, including 128 in the UK.
Employees affected by the plans “will be provided with redeployment opportunities where possible, however, the closure will unfortunately result in the loss of a number of jobs”, the firm said.
A Flutter UK & Ireland spokesperson said: “We are constantly reviewing our high street estate, but it remains an important part of our offering to customers, and we are looking to innovate and invest wherever possible as we adapt to different customer trends and needs.”
This comes amid a backdrop of concern in the region over speculation Labor The government will increase gambling taxes next autumn Budget,
The company said the decision was not directly due to tax pressure, but urged the government to refrain from additional measures on the sector.
The spokesperson said: “Although today’s closure is not directly related to the uncertainty surrounding the budget, higher gambling taxes could have a significant impact on jobs and investment across the industry and drive more customers into the open arms of illegal, black market unlicensed operators.”
William Hill owner Evoque said earlier this week it was considering “further store closures” if it was hit by further tax rises in the UK.