Coolbet puts 131 Tallinn roles at risk as UK raises Machine Games Duty

Coolbet has opened a collective redundancy consultation at its Estonian headquarters, the UK Budget raised duty on higher-stakes gaming machines, and FanDuel is reported to be confirming Christian Genetski as permanent chief executive.

Tallinn skyline
Photo: Tallinn skyline, 2025, by Sander Valdre / Wikimedia Commons, licensed under CC BY 4.0.

Coolbet has identified 131 positions at risk of redundancy at VG Estonia OÜ, its group company registered in Estonia, and has notified the country's Unemployment Insurance Fund (Töötukassa), NEXT.io reported. Staff at the Tallinn headquarters were told of the plans at an all-hands meeting on 26 October.

VG Estonia employs more than 360 people and Coolbet has about 1,000 staff worldwide, according to NEXT.io. Estonian broadcaster ERR, citing business daily Äripäev, put the total at 134. Coolbet's Tomas Graham said the consultation was expected to run throughout November and that no end date had been confirmed. "Nothing has been finally decided today," he told ERR.

The company cited "business challenges, weaker than expected results in the B2B side and growing regulatory and tax pressure in several of our markets". NEXT.io said most roles at risk are in development, IT and B2B, with some customer support and other service functions also affected, and that the B2B business, particularly in the US, had underperformed over the past 12 to 18 months. Graham said the headquarters would remain in Tallinn. Coolbet became part of Sega Sammy when the Japanese group acquired its parent, GAN, in 2025.

In the UK, Chancellor John Healey used the Autumn Budget on 28 October to raise Machine Games Duty from 20% to 25% on higher-stakes machines, those with stakes over £1 or prizes over £100, from 1 April 2027, InterGame reported. Category C and D machines in pubs and seaside arcades are unaffected. The Office for Budget Responsibility estimated the change would raise receipts by about £100 million a year from 2027-28.

The Betting and Gaming Council called the decision "deeply damaging". Chief executive Grainne Hurst said EY modelling indicated "almost 9,000 people could lose their jobs and almost 1,000 betting shops and casinos could close or be at serious risk". The BGC said more than 11,000 jobs across online and retail had been lost or put at risk since the previous Budget. Online gaming duty rose to 40% in April 2026 and General Betting Duty is due to rise to 25% in April 2027.

In the US, Christian Genetski is set to become permanent chief executive of FanDuel from 1 January, according to a Front Office Sports report cited by InterGame. Group chief executive Dan Taylor reportedly told Flutter staff the move "gives FanDuel continuity at an important point in its growth". Genetski has been interim chief executive since May, when he replaced Amy Howe.

Among suppliers, Hacksaw announced on 3 November that Philippa Gregory would become operational chief executive of its subsidiary Hacksaw Gaming, Complete iGaming reported. She succeeds Marcus Cordes, who will build a team for Hacksaw Markets, the group's B2B prediction markets platform. The two will work in parallel until 1 December, and chief commercial officer Luke Hammett joins the group management team. Hacksaw reported third-quarter revenue up 12% to €58.1 million.

In Hungary, Finance Minister András Kármán appointed Zoltán Sólyom as chief executive of state-owned operator Szerencsejáték Zrt, SBC News reported. The company had been without a chief executive since Zoltán Guller was dismissed in July. Sólyom founded insurance consultancy Palladium Consulting and has no previous gambling industry experience, according to SBC News.

In Latin America, amendments to Chile's online betting bill published by the Senate and dated 26 October set out an effective 22% tax, made up of 19% VAT plus a 3% levy, both charged on the difference between stakes and prizes paid, alongside a general advertising ban, NEXT.io reported. Licensed operators could keep advertising contracts signed before the law for up to a year. The measures are not yet law. In Brazil, operators' association ANJL said it was preparing compensation claims for members affected by the federal suspension of the licensed online betting market, Tribuna reported.

Elsewhere in North America, the Michigan Gaming Control Board authorised licensed online sportsbooks to offer fixed-odds horse racing bets from 30 October, iGaming Business reported, and Nova Scotia's finance minister John Lohr confirmed discussions on opening the province's online market to private operators, with no timetable announced.

For hiring, the week's reported moves add up to 131 development, IT, B2B and support roles under consultation in Tallinn through November, a further UK duty rise from April 2027 that the BGC links to potential retail job losses, and leadership changes at FanDuel, Hacksaw Gaming and Szerencsejáték. Chile's draft licensing regime and Michigan's new fixed-odds product are the reported developments that could create market-entry and trading roles if implemented.

Sources