Entain cuts 120 jobs, exiting ‘non-core’ business as part of Australasian strategy pivot

Entain Australia and New Zealand is reducing its Australasian workforce by 10 per cent, impacting 120 jobs across the wagering business, as part of an initiative to reduce the company’s ongoing costs by $60 million.

Entain had already reduced its headcount by 60 across both countries over recent months, with another 60 jobs “under consultation” and employees expected to depart in the coming weeks.

The Straight understands that Entain staff were told about the changes on Wednesday, with the cuts affecting all aspects of the business except the anti-money laundering and safer gambling teams.

Cuts are focused on what has been termed non-core business, having exited from its Racing Club initiatives in Australia and New Zealand and moved away from the Entain Venues strategy.

It is also likely to impact the volume of sponsorships the company will renew, albeit the headline race club sponsorships are expected to continue.

There will be an operational review of the business expenses, with a view to greater efficiencies, while it will end its nine-day fortnight employee initiative and require staff to work at least two days a week in the office.

“Entain Australia & New Zealand is making changes to strengthen its business for the long term – getting back to the basics of selling bets and implementing a ‘win, but not at all costs’ culture’,” an Entain spokesperson said. 

“These changes will deliver over $60 million of annualised savings and ensure we remain competitive, innovative and compliance-led.

“To date, around 60 roles have been removed across Australia and New Zealand, and we are currently consulting with a further 60 roles that are potentially impacted. Every person affected is being treated with care, respect and support.” 

It follows the Australasian arm of the global wagering giant undergoing a major strategy shift. A raft of senior executives have left the company in 2025, including long-time chief executive Dean Shannon, who departed in June.

Andrew Vouris has assumed the top role of the Australia and New Zealand business under the mantra of ‘winning, but not at all costs’.

The change followed AUSTRAC bringing civil charges against Entain last December.

The AUSTRAC action remains ongoing, with Entain saying last month it was willing to argue its case against accusations of improper anti-money laundering and counter-terrorism financing safeguards in the Federal Court, which has set down a time for the case in November 2026.

It is still possible that Entain and AUSTRAC could opt to settle the case before it reaches court, but it hangs like a dark cloud over the business.

Vouris has said previously that Entain remains committed to its operations in Australia, where it has the Ladbrokes and Neds brands, and in New Zealand, where it is three years into a 25-year deal to operate the TAB NZ.

Nevertheless, it remains the centre of industry scuttlebutt over whether it may become an acquisition target.