Ladbrokes’ Irish business returned to profitability in 2025, although declining revenue, rising current liabilities and a major reduction of its retail estate underline the continuing pressure on the bookmaker’s operations in Ireland.
The Entain-owned company recorded a profit of approximately €300,000 for 2025, reversing a €1.3 million loss in the previous year. The improvement came largely alongside lower operating costs rather than revenue growth. Revenue dropped from €36.8 million in 2024 to €33.2 million, a decline of almost 10%.
Operating expenses were reduced from €25.2 million to €21.5 million. Staff costs also fell, from €15.4 million to €14.2 million, while the company’s average monthly workforce decreased from 542 employees to 526.
Despite returning to profit, Ladbrokes Ireland finished the year with net current liabilities of €11.1 million, compared with €8.9 million at the end of 2024. The business had already moved into a net liability position in 2023 following an impairment of fixed assets. It also owed €6.4 million to other Entain group companies. Entain has committed financial support and does not intend to demand immediate repayment of those amounts, allowing the Irish subsidiary to continue operating as a going concern.
The financial results precede a significant restructuring of Ladbrokes’ Irish retail network. In March 2026, the bookmaker announced plans to close as many as 39 shops, representing more than one-third of its estate at the time and putting 226 jobs at risk. Ladbrokes attributed the decision to sustained operating costs, changing customer behaviour and competition from unlicensed gambling operators.
The closures represent another major contraction for a chain that operated 143 Irish branches in 2017. After the latest restructuring, Ladbrokes’ retail footprint is expected to fall to roughly the mid-60s.
The company is also operating under Ireland’s new gambling regulatory framework. The Gambling Regulatory Authority of Ireland became operational in March 2025, while provisions allowing it to issue remote and in-person betting licences took effect on 5 February 2026. The regime gives the regulator extensive enforcement powers, including potential financial penalties of up to €20 million or 10% of a licensee’s turnover for breaches of the legislation.
At group level, Entain reported £5.33 billion in net gaming revenue and £1.16 billion in underlying EBITDA for 2025, with retail EBITDA increasing 6% to £277 million. However, the Irish subsidiary’s falling turnover and shrinking physical estate show that its return to profit has not removed the structural challenges facing Ladbrokes’ retail business in the country.