Ladbrokes Ireland has posted a profit for 2025, but the figures raise questions about a brand now operating in a new regulatory era. 

On the latest episode of iGaming Daily, host Charlie Horner is joined by SBC News Editor Ted Orme-Claye and SBC Business Journalist Patrick Killeen to unpack the numbers and what they mean for the brand under Ireland’s new regulator.

A Profit Built on Cuts

According to accounts filed with Ireland’s company registry office, Ladbrokes Ireland turned a €1.3 million loss into a €300,000 profit. Staff costs fell from €15.4 million to €14.2 million, while headcount dropped from 542 to 526. Revenue also slipped nearly 10%, from €36.8 million to €33.2 million.

“It’s still relying on the backing from the wider Entain group to continue as a going concern,” said Killeen, noting that Entain has not demanded immediate repayment of a €6.4 million loan and has guaranteed continued support for the business.

Orme-Claye called the turnaround impressive on its face, but said it comes with “an uglier and a darker side” in the form of job losses. 

With Entain facing a heavy tax burden in the UK, he suggested the Irish arm could be squeezed further to help prop up the larger and more lucrative UK business, potentially speeding up a shift towards a more online-led operation in Ireland.

Shop Closures

Entain has said it will close 39 Ladbrokes shops in Ireland this year, citing cost pressures, changing customer behaviour and the black market. Killeen argued this will hit 2026 revenue, but not necessarily the bottom line. 

The closures are likely to target underperforming sites, he said, meaning a slimmer estate could still improve profitability.

Orme-Claye said the UK’s tax rises show how retail and online are linked, despite attempts to shield high street betting. “When you run an omnichannel business, you’re going to look at where you can cut costs as a group,” he explained, adding that higher taxes are accelerating a shift away from retail that was already underway.

A New Regulator

The discussion then turned to the Gambling Regulatory Authority of Ireland, which took full control of the market in July, replacing the Revenue Commissioners as the de facto regulator.

Orme-Claye described it as the most significant development for the Irish market in decades, noting that the regime includes a social impact fund paid into by operators. Marketing remains a sticking point, he added, particularly given Ireland’s close ties between sport and betting.

Both guests praised the legislative process, with Orme-Claye contrasting it with the UK’s Gambling Act review, which he said passed through around 13 ministers and suffered repeated delays. Killeen pointed to Dragonbet’s recent entry as a sign of continued appetite for the market.

Orme-Claye did sound a note of caution, however, citing murmurs of potential tax increases in Ireland. As Horner joked, the Irish government’s “Government of the Year” status may have lasted all of three minutes.

Watch the full episode here.