Entain has confirmed it will cut around 500 roles across the group as part of an operational efficiency programme led by CFO Michael Snape.
The reductions will primarily affect the operator's central Corporate Functions, including People, Finance and Governance, alongside its Product & Technology teams.
The move comes as Entain continues a broader programme to simplify its organisation and improve operational efficiency. The operator said the initiative is not a specific response to UK gambling tax increases, although the industry is facing a more challenging cost environment following changes to the UK's gambling duty regime.
An Entain spokesperson said: "As part of our ongoing focus on enhancing Entain's operational efficiency and agility, we have begun implementing organisational changes which will regrettably impact a number of roles across the Group over the months ahead. These changes will help make Entain a stronger, better business and are further demonstration of our strategic focus on maximising shareholder value."
The spokesperson added: "We are consulting with all those affected to support them during this process."
The planned reductions were first reported by Reuters.
Although Entain stressed the programme is not a direct response to tax policy, the operator has previously estimated that changes to UK online gambling duties will increase its annual costs by approximately £200m ($269.5m). In March, the group said cost-saving measures across the business would offset more than half of that increase.
Alongside regulatory changes, listed gambling operators have also identified emerging prediction markets as a growing competitive challenge. These platforms, which allow users to trade contracts linked to sporting and other event outcomes, have attracted increasing attention from both operators and regulators as their popularity expands.
The Gambling Commission has previously stated that prediction market products offered in Great Britain would generally require an appropriate gambling licence.
The workforce reduction follows further strategic changes across Entain's business. In June, the operator agreed to sell a 20% stake in Entain CEE to EMMA Capital for approximately €425m as the first phase of a planned exit from the joint venture. Entain said the transaction would reduce debt and lower annual interest costs as it continues reshaping its international portfolio.
Michael Snape joined Entain as CFO Designate in February before formally succeeding Rob Wood as Group CFO in March. His appointment followed more than two decades in senior finance roles across retail and consumer businesses, including International Distribution Services.
Earlier this week, Entain backed the UK Government's consultation on banning sponsorship agreements between sports organisations and gambling operators that are not licensed by the Gambling Commission, while urging sporting bodies to introduce a voluntary ban ahead of any legislative changes.
Entain said the current restructuring programme is focused mainly on central support functions rather than customer-facing or market-specific operations.
