Flutter Entertainment is set to cease operations at Sky Bet Malta, just a year after relocating from the UK. This move will result in more than 50 job cuts, with remaining functions being shifted to Gibraltar. Although the workforce at Flutter's Malta office exceeds 500 employees, which includes staff from Betfair International, the company has clarified that it will not completely withdraw from the island. As part of this restructuring, Sky Bet and Sky Gaming will align under the jurisdiction of Gibraltar and the guidance of the newly appointed Managing Director of Sky Betting and Gaming, Neil Banbury.
Sky Gaming is expected to move its headquarters to Gibraltar in 2024. Banbury joined Flutter in October after over 15 years with Kindred Group, where he served as the chief commercial and marketing officer.
The decision to close operations in Malta cancels a significant move initiated back in November 2025 when the UK relocation was projected to save Flutter millions of pounds annually. The company has refrained from commenting in detail about the closure, only reiterating prior announcements regarding business restructuring.
Additionally, Flutter is restructuring its operations in the UK and Ireland following an increase in gaming machine taxes in the UK. The company is preparing to eliminate approximately 1,400 positions in the UK as the Remote Gaming Duty rises from 21% to 40% in April 2026. Moreover, the General Betting Duty on sports betting, exclusive of horse racing, is also slated to increase, from 15% to 25%, in April 2027.
