Flutter to shut underperforming Paddy Power betting outlets
As Ireland is poised to implement substantial reforms in its gambling industry, Flutter Entertainment has decided to reorganize its Irish betting portfolio and this strategic move entails the closure of nearly two dozen Paddy Power betting shops. The Dublin, Ireland-headquartered international sports betting and gambling company said it will shut down 21 “underperforming” Paddy Power betting shops, as part of its broader adjustments to align with the evolving regulatory landscape & market dynamics in the country.
At present, Paddy Power is operating a network of 241 betting shops throughout the Northern European country. The decision to close 21 of these outlets is not an isolated event as this move includes a previous round of closures forced by the challenges and problems posed by the COVID-19 pandemic, which had a substantial adverse impact on the entire gambling industry. However, this transformation is not solely a reaction to external circumstances. It also reflects the broader evolution in public attitudes towards gambling.
It is also worth noting here that the unstoppable trend toward online gambling and betting platforms has brought a big change to the gaming industry's landscape, and Ireland is obviously no exception to this trend.
The racing industry of Ireland is also deeply concerned about upcoming regulatory changes, including advertising restrictions and betting limits that are expected to disrupt the industry. Prominent horse trainer Barry Connell openly said that he was pessimistic about racing's future.
When asked for a comment, Connel added, “Very often, people who own horses can’t get to the races, and it’s very important that they can be able to watch their horses running. If that option wasn’t there, you would see a dramatic drop off in ownership and that has a huge knock-on effect for the industry, and also tax take for the government.”
Among the 21 underperforming Paddy Power shops that are scheduled for closure, a notable proportion caters to bettors in Ireland’s capital city, viz. Dublin. However, the list extends well beyond the capital city, encompassing locations like Clonmel, Cork, Cloghran, Galway, Greenhills, Skibbereen, Terenure, Stoneybatter, New Ross, Goatstown, Dalkey, Old Bawn, and Waterford.
The decision to shut down Paddy Power shops at the aforementioned locations undoubtedly impacts the livelihoods of 78 employees. To mitigate the impact, Flutter has affirmed its commitment to assisting these employees in finding new job opportunities within its network at other locations.