Coolbet plans to cut 134 Tallinn jobs

• Coolbet’s Estonian entity, VG Estonia OÜ, notifies Töötukassa of up to 134 redundancies
• The plan could remove nearly half of VG Estonia’s 300-plus Tallinn payroll
• Yolo Group and its Bombay Group arm have shed hundreds of Estonian jobs since 2025

Coolbet has opened collective redundancy talks at its Tallinn head office, covering up to 134 roles at VG Estonia OÜ, ERR News reported on 29 October 2026.

The Sega Sammy-owned operator has notified Estonia’s Unemployment Insurance Fund (Töötukassa), and the plan could remove nearly half of its Estonian staff.

Half the headcount

VG Estonia, Coolbet’s registered company in Estonia, had more than 300 employees on its payroll at the end of the third quarter, according to ERR. Business daily Äripäev reported that the notification covers up to 134 roles.

Coolbet runs its headquarters from Tallinn’s Old City Harbour area. The company says around 300 of its 1,100-plus staff worldwide are based there.

Tomas Graham, COO at Coolbet, said:

“We have started the official collective redundancy consultation process, and the final scope of the redundancies and the positions affected will become clear after it ends. Nothing has been finally decided today.”

Graham told ERR the plan affects around 130 positions across the organisation. He later told NEXT.io that 131 positions had been identified, with consultation expected to run through November.

The B2B drag

Graham tied the plan to changing business needs and market conditions. He said:

“The need for restructuring stems from a combination of factors, including business challenges, weaker than expected results in the B2B side and growing regulatory and tax pressure in several of our markets.”

The B2B reference is the one to watch. Most roles in scope sit in development, IT and B2B. Some service teams, including customer support, are also affected.

Next.io also reported that the B2B unit, particularly its US business, has underperformed for 12 to 18 months. Coolbet’s consumer brand is said to be in better health after a busy World Cup year.

Ownership sits in the background. Coolbet became part of Sega Sammy when the Japanese group completed its takeover of parent company GAN in May 2025, a deal first agreed in November 2023. GAN had acquired Coolbet in January 2021 for $175.9m in cash and stock.

Graham added:

“The aim of the restructuring is to ensure Coolbet’s long-term sustainability and competitiveness. We understand that the planned changes affect our employees and we are committed to ensuring the whole process is carried out responsibly and with respect.”

Inside the filings

VG Estonia has yet to file its 2025 annual report. In 2024, the company booked turnover of €23m and a net profit of just €311,000, ERR reported.

Quarterly returns to the Tax and Customs Board (MTA) put turnover so far this year at almost €60m. Average gross pay at the company stood at €4,100 a month.

Coolbet also operates Staycool OÜ, a second Estonian company offering online gambling and sports betting to players inside the country. The redundancy notice was filed by VG Estonia, according to ERR.

Yolo cuts came first

Coolbet’s plan lands in a city that has already watched one gambling heavyweight shrink. In September 2025, Yolo Group moved to cut 280 Estonian jobs as it exited unregulated markets and consolidated under the single Yolo brand.

The group, in which Australian entrepreneur Tim Heath holds a 70.5% stake, kept more than 600 staff in Estonia after that round, ERR reported.

The European Restructuring Monitor recorded it as the country’s largest layoff of 2025.

Bombay folds its tables

The retrenchment then reached Yolo’s land-based arm. In November 2025, Bombay Group announced at least 145 redundancies across its Old Town hotel, restaurants, casino and offices, according to the European Restructuring Monitor.

A further round followed in March 2026. ERR reported that Bombay was dismissing more than half of the 164 people on its 2025 payroll, citing profitability issues, according to Delfi Ärileht.

Management board member Dajana Tiitsaar said at the time that daily table games had proved economically unjustified. The Bombay Club casino then closed for good on 30 September 2026.

The Burman Hotel continues to trade, and the Shang Shi restaurant is due to close on 15 November. The group’s online brands, Yolo.com and Bombaycasino.com, have also gone offline.

Beyond the casino floor

Estonia’s wider jobs market is cooling as well. In recent weeks, ERR has reported Telia planning to cut 100 jobs in Estonia and Swedbank laying off 100 staff across the Baltics.

Software unicorn Pipedrive announced a major restructuring with office closures on the same day as the Coolbet news. Gambling is shedding staff alongside telecoms, banking and tech.

Graham told NEXT.io the redundancies were not linked to anything specific about Estonia as a market or operating base. He said:

“Our headquarters remains in Tallinn and Estonia continues to be a key market for us both as a company and a B2C gaming market for Coolbet as a brand.”

Estonia’s tax gamble

The timing is awkward for a government courting online casino operators, including those targeting Finland, with a lower gambling tax. The rate fell to 5.5% this year and is due to drop in half-point steps to 4% by 2029.

That plan has already stumbled. A drafting error left online casinos briefly untaxed at the start of 2026, prompting operators to make voluntary payments before lawmakers restored the levy from 1 March. Prime Minister Kristen Michal has since moved to reassess the cut over budget pressure.

Pressure is building across the sector too. Flutter has put up to 1,400 roles at risk in the UK and Ireland, and GiG reported a B2B revenue fall in Q3.