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Global operator Bet365 has confirmed plans to cut around 340 jobs in response to increased regulatory and tax-related costs.
The job cuts, which represent approximately 3% of Bet365’s workforce, will be made across the company’s offices in Stoke-on-Trent, Malta and Gibraltar.
Bet365 attributed the job cuts to a “highly competitive trading environment, plus increased regulatory and tax-related costs”.
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In the suit brought earlier this year, the Cantor unit accuses the two gaming companies of infringing on five of its patents and requested an undisclosed amount of financial damages.
Interactive Games was once a part of Cantor Gaming, which no longer operates. That entity was familiar with controversy, enduring allegations of money laundering and nearly losing its Nevada license in 2018. The parent company sold the business in 2019.
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North America continues to be a strong and prominent region for Playtech. US general manager Jonathan Doubilet told iGB’s sister publication GGB in June that it had exceeded its expectations in the region.
Latin America revenue also continued to grow during the six-month period – up 29% to €100 million – driven by customer acquisition from the World Cup in both Mexico and Colombia.
The company cited a 100% uplift in Mexico’s average audience versus the 2022 World Cup, which had led to “excellent new customer acquisition” during the tournament.