Gambling giants strangled by taxes? 

Major European gambling operators are facing mounting tax pressure. Flutter, Entain, and FDJ United must rethink their spending, cut costs, or close retail locations to protect their profits—a situation that also affects Belgium, where gambling taxation continues to spark debate. 

Taxes weigh ever more heavily on operators 

Gambling still generates billions across Europe, yet industry companies must contend with an increasingly heavy tax burden. 

According to an analysis published on November 10, 2026, by specialist outlet iGaming Business, several major European groups are adapting their strategies to limit the impact of tax hikes. 

Operators must spend more on taxes while continuing to attract players in a fiercely competitive market. The chosen solutions vary: some are cutting expenses, while others are investing in new technologies or considering closing retail outlets. 

Flutter cuts costs to protect its customers 

At Flutter Entertainment, owner of several gambling brands, management made a clear choice: reduce operating expenses rather than scale back investments aimed at players. 

Its new CEO, Dan Taylor, explained that the company faced two options: 

• cut marketing spend and customer perks, 
• leverage its scale to absorb part of the tax increases. 

Flutter opted for the second approach. 

However, this strategy comes with tough decisions. The restructuring of its UK and Ireland operations involves roughly 1,400 job departures. 

The group also aims to achieve $500 million in additional cost savings by 2029, notably by simplifying its IT systems and organizational structure. 

Despite these changes, UK and Ireland revenue rose 4% to $889 million in the third quarter. 

Retail venues threatened with closure in the UK 

At Entain, owner of Ladbrokes and Coral among other brands, tax increases are a particular concern for retail venue managers. 

In the UK, the tax rate applicable to certain gaming machines will rise from 20% to 25% in April 2027. According to Morgan Stanley, this hike could reduce Entain’s annual profits by roughly £25 million if no mitigating action is taken. Analysts also estimate that around 10% of the group’s retail shops could become unprofitable under the new rate. 

The consequences are already visible elsewhere in the sector. 

Evoke, another British operator, announced it had closed roughly 270 venues over a single year. CEO Per Widerström specifically pointed to the impact of tax hikes on employment. 

For the companies involved, the issue is no longer just paying higher taxes, but determining which venues can still operate profitably. 

FDJ United sees revenues decline 

The situation is equally challenging for FDJ United. 

Over the first nine months of 2026, the French group recorded gross gaming revenue of €6.26 billion, down 2.8%. 

Overall revenue fell even more sharply, dropping 5.6% to €2.58 billion. 

This gap is largely explained by €62 million in additional gambling taxes. 

Difficulties are particularly pronounced in the UK and the Netherlands, where online gross gaming revenue fell by 24.4% and 8.6%, respectively. 

To return to growth, FDJ United is working to tighten cost controls and streamline operations. In France, the group notably consolidated its sports betting and online poker offerings under the Unibet brand. 

Conversely, Italy’s Lottomatica continues to grow, posting a 5% quarterly revenue increase to €537 million. 

Taxation is also debated in Belgium 

Although iGaming Business’s analysis focuses primarily on major European markets, Belgium is not immune to debates over gambling taxation. 

In February 2026, as Gambling Club reported in an article on Belgian casino taxation, the N-VA proposed amending the tax treatment of land-based establishments. 

The debate centers notably on allowing certain regional taxes to be deducted from taxable profits—a practice abolished by the reform that took effect in January 2024. 

The Belgian market nonetheless has its own distinct dynamics. 

According to Gaming Commission figures reported by Gambling Club, the legal Belgian market generated roughly €1.62 billion in gross gaming revenue in 2025, virtually unchanged from 2024. 

Behind this overall stability, online casinos are gaining ground while land-based venues are losing market share. 

Higher taxes, but at what cost? 

Governments are seeking to boost tax revenues while operators strive to protect profitability. Yet raising taxes does not automatically guarantee higher public receipts. 

In the Netherlands, an analysis showed that recent tax hikes generated less revenue than projected, against a backdrop also marked by new regulatory restrictions. 

For major European gambling groups, the challenge now lies in striking the right balance between cost savings, investment, and sustaining operations.