Flutter reverses Sky Bet’s Malta move less than a year later

Flutter Entertainment is set to close Sky Bet’s Malta operation less than a year after relocating the brand’s commercial headquarters from the UK to Malta, reversing a move that had been expected to deliver tens of millions of euros in annual savings.

Sky Bet’s Malta-based operations will be transferred to Gibraltar, where sister brand Sky Gaming is already headquartered. Around 50 redundancies are expected to affect staff in Malta, while remaining employees are expected to move with the business to Gibraltar.

The closure forms part of a broader restructuring of Flutter’s UK and Ireland business, announced on 20th October, which could put up to 1,400 jobs at risk.

The company is seeking to reduce fixed costs and operational expenses following significant increases in UK gambling taxes. As part of the changes, SBG Sports Limited, the Maltese branch of the UK entity, is expected to be wound down.

Sky Bet is a leading UK online sports betting and gaming brand owned by Flutter Entertainment, one of the world’s largest sports betting and iGaming groups. The company offers online betting on a wide range of sports, alongside gaming products, and operates as part of Flutter’s broader portfolio of international gambling brands.

Sky Bet’s Malta relocation reversed

The planned closure marks a significant reversal of Sky Bet’s November 2025 relocation, when its commercial headquarters moved from the UK to Malta in a move expected to generate substantial annual savings.

The latest decision will consolidate Sky Bet’s operations with Sky Gaming in Gibraltar, which transferred its headquarters to the British Overseas Territory in 2024.

The consolidation also follows the appointment of Neil Banbury as managing director of Sky Betting & Gaming earlier this month, bringing the two brands under a single senior leadership structure.

Mr Banbury joined Flutter on 1st October after more than 15 years at Kindred Group, where he most recently served as Chief Commercial and Marketing Officer.

Despite the closure, Flutter is expected to retain a significant presence in Malta, with approximately 500 employees remaining on the island across brands including Betfair International.

UK gambling taxes drive restructuring

Flutter’s restructuring comes as the company responds to higher UK gambling duties announced in the Government’s November 2025 budget.

Remote Gaming Duty increased from 21 per cent to 40 per cent in April 2026, while General Betting Duty is scheduled to rise from 15 per cent to 25 per cent in April 2027.

The wider changes affect a UK and Ireland workforce of approximately 9,000 employees, with around 15 per cent now facing an uncertain future.