Coolbet puts 131 positions at risk at its Tallinn headquarters

Estonia-based betting company Coolbet has put approximately 130 positions at its Tallinn headquarters at risk of redundancy. The company started a collective redundancy process through its subsidiary VG Estonia OÜ and notified Töötukassa, the Estonian Unemployment Insurance Fund. COO Tomas Graham stated that the number of positions that could be affected is 131.

The consultation process is expected to run through November, but no exact end date has been set yet. VG Estonia has more than 360 employees, which means nearly half of the workforce in Estonia could be affected. Coolbet has around 1,000 employees worldwide.

The company cited business challenges, B2B results below expectations and increasing regulatory and tax pressure in some markets among the reasons for the restructuring. Employees were informed at a meeting held in Tallinn on Monday, 26 October. According to sources, most of the positions at risk are in development, IT and B2B, while some are in service functions such as customer support.

The B2B business line, particularly its US operations, has reportedly fallen short of expectations over the past 12 to 18 months. The B2C side was said to be in a better position, supported by a strong World Cup year and stable performance in some core markets.

Coolbet is part of GAN, which was acquired by Japan's Sega Sammy Group in 2025. When asked whether the restructuring was linked to the change in ownership, Graham said the company's strategic direction is aligned with one of the group's long-term priorities.