Coolbet begins consultation on more than 130 potential Estonia job cuts

Coolbet has notified Estonia's Unemployment Insurance Fund (Töötukassa) that it may lay off more than 130 employees at its Tallinn headquarters, the company announced. The restructuring concerns VG Estonia OÜ, part of the Coolbet group, and the company has started the official collective redundancy consultation process. The final number of redundancies and the positions affected will be determined once that process concludes.

Tomas Graham, the COO of Coolbet, framed the restructuring as a response to shifting business requirements and market circumstances. Among the factors behind the decision, he listed business challenges, a B2B segment that has performed below expectations, and growing regulatory and tax burdens in multiple markets. Graham added that the goal is to protect Coolbet's long-term sustainability and competitiveness. He further recognized that employees may be affected and said the company is committed to carrying out the process in a responsible and respectful manner.

People with knowledge of the restructuring indicated that development, IT and B2B account for most of the roles being cut. Customer support is among the other service functions that are likewise set to be impacted.

NEXT.io interviewed Graham and put the ownership question to him directly. He answered that Coolbet's strategy fits the wider group's long-term priorities. The restructuring, he continued, came from a need to reshape how the company works so it matches present commercial circumstances and a market that keeps changing. Sega Sammy, based in Japan, has owned Coolbet since buying GAN, Coolbet's parent, in the previous year.

VG Estonia OÜ reported a payroll above 300 at the end of the third quarter, which puts close to half of its staff in line for possible redundancy. According to the company's website, it employs over 1,100 people internationally, with roughly 300 of them working from the Tallinn headquarters. The 2025 annual financial report from VG Estonia is still outstanding. For 2024, it posted turnover of €23m ($25.67m) alongside a net profit of €311,000 (about $347,000). Filings made each quarter to the Estonian Tax and Customs Board (MTA) indicate turnover of almost €60m (about $67m) already in 2026.

A second Estonian entity, Staycool OÜ, is also run by Coolbet and offers online gambling and sports betting services in the domestic market. Whether that company would be impacted by the restructuring is currently unknown.