With the merger between Irish betting giant Flutter Entertainment and the Stars Group (TSG) going smoothly, the Dublin office of TSG has been laying off employees in anticipation of the completion. The company’s Cherrywood, Co Dublin office has seen a decline from 330 employees to 260 over the past year, as reported by the Irish Times.
Another group that is responsible for providing customer service for TSG has been told that their jobs are likely to go. Some have been told that they are being laid off while others will find that their jobs will soon be phased out. Others have been offered alternative positions within the company.
TSG has explained that Pokerstars operations faced challenges in 2019 which led to cost-cutting measures, regardless of their deal with Flutter. “We believe our proposals will help us to deliver long-term sustainable growth. Dublin remains an important hub for the business.”
While TSG was having a difficult 2019, Flutter was extremely successful this last year, recording revenues that topped £2.14b. That was a 14% increase over the previous year and was fueled by an increase of 113% in sports betting revenue. This saw the company reach a total of £1.67b.