Coolbet notifies Estonian authorities of possible layoffs of more than 130 staff in Tallinn

Online gambling operator Coolbet has told Estonia's Unemployment Insurance Fund, Töötukassa, that it may cut more than 130 jobs at its Tallinn headquarters. The notification follows the announcement of a restructuring at VG Estonia OÜ, a company within the Coolbet group.

The business has opened the formal collective redundancy consultation process. The final number of job cuts, and which roles are affected, will be settled only after the consultations conclude.

Coolbet chief operating officer Tomas Graham said the restructuring is needed to respond to changing business needs and market conditions. He pointed to a mix of causes: general business challenges, B2B results that fell short of expectations, and rising regulatory and tax pressure in several markets. According to Graham, the goal is to secure the company's long-term sustainability and competitiveness. He acknowledged the effect on staff and said the process would be handled responsibly and respectfully.

Sources familiar with the plans say most of the roles at risk are in development, IT and B2B, although some service functions, including customer support, are also expected to be affected.

In an interview with NEXT.io, Graham was asked if the move was linked to the change in ownership. Coolbet has belonged to Japan's Sega Sammy since the group completed its acquisition of Coolbet's parent company, GAN, last year. Graham answered that Coolbet's strategic direction is aligned with the wider group's long-term priorities, and that the restructuring reflects the need to adapt operations to present business conditions.

VG Estonia had more than 300 employees on its payroll at the end of the third quarter, so the possible cuts could touch nearly half of that workforce. The company's website says its international workforce exceeds 1,100 people, including about 300 at the Tallinn office. VG Estonia has not yet filed its 2025 annual report. In 2024 it posted turnover of EUR 23 million and a net profit of EUR 311,000, while quarterly filings with the Estonian Tax and Customs Board show turnover of nearly EUR 60 million so far in 2026.

Coolbet also runs a second Estonian entity, Staycool OÜ, which offers online gambling and sports betting in the domestic market. There is currently no information on whether it will be affected.