Paddy Power to close Kells shop

The Paddy Power shop in Kells is set to close, as the betting company closes 21 premises across Ireland.

According to the Business Post, Flutter UK and Ireland, the parent company, said that "while the majority of the 78 colleagues across the affected shops would be offered redeployment opportunities, a small number of jobs will be lost."

The affected betting shops will be closed through a mix of lease expiries and early terminations.

David Newton, Chief Commercial Officer at Paddy Power, said the majority of their estate continues to perform well and is growing market share, they have decided to close a number of underperforming shops.

“This is absolutely no reflection on our hard-working shop colleagues, and I would like to thank them for their service and professionalism during this difficult time,” he said.

He said that Paddy Power is in contact with the affected colleagues to provide support to those who are impacted by the changes.

Flutter last year said footfall in Irish towns and cities had failed to recover from the Covid-19 pandemic in the same way that those in Britain had, for example. The company closed 15 betting shops in the 12 months to August of last year.

In its statement, Flutter said it would continue their investment in their remaining 230 high street estates across Ireland.

The company also claimed it had gained market share in both the UK in Ireland during the first half of the year.

While Flutter expects a challenging time for the retail sector and the betting and gaming industry, it still managed to deliver double-digit earnings growth in the first half of this year.