Entain to cut 400 customer care roles despite £479m profit
Entain, the company behind Coral and BetMGM, is preparing to cut 400 staff, from customer care, despite posting £479 million in underlying operating profit for the first half of 2026.
While that's a bit less than last year, it still beat what investors expected.
CEO Stella David explained the cuts are about staying competitive as things get tougher in the betting world.
Slot tax threat, shares down 36%
A big reason for these layoffs? The UK government is reportedly looking at increasing taxes on certain slot machines this October.
Entain says this could push their costs up by £100 million and might lead to more store closures and job losses in its UK retail business.
On top of that, Entain's share price has dropped 36% this year, and they'll be moving down to the FTSE 250 index soon, a sign of how challenging things have become for UK gambling companies lately.