Coolbet Puts 131 Tallinn Roles at Risk as B2B Performance Weakens

Coolbet has begun a collective redundancy consultation at its Tallinn-based company, VG Estonia OÜ, with 131 positions potentially affected, chief operating officer Tomas Graham told NEXT.io.

The operator has notified Estonia’s Unemployment Insurance Fund, Töötukassa. Business newspaper Äripäev reported that the notification covers up to 134 employees, slightly above the figure provided to NEXT.io. The final number and affected positions remain subject to consultation. 

Consultations Expected to Continue Through November

Employees were informed of the plans at an all-hands meeting on October 26. Consultations are expected to run throughout November, although Graham said an exact completion date had not been confirmed.

According to NEXT.io’s sources, development, IT and B2B teams account for most of the roles at risk. Some service functions, including customer support, are also affected.

The figures describe proposed redundancies rather than completed dismissals. Graham told Estonian public broadcaster ERR that the final scope would become clear after consultations and that no final decisions had been made. 

Business Challenges Behind Restructuring

Coolbet attributed the proposed changes to a combination of business difficulties, weaker-than-expected B2B performance and increasing regulatory and tax pressure in several markets.

The company said restructuring was intended to support its long-term sustainability and competitiveness. It did not publish a financial savings target or a detailed breakdown of the contribution expected from each affected department. 

NEXT.io reported that B2B operations, particularly in the United States, had underperformed over the preceding 12-18 months. Its sources described the consumer-facing business as being in a stronger position, supported by World Cup activity and performance in core markets. 

Tallinn Headquarters to Remain

Graham said the proposed reductions were not driven by Estonia’s attractiveness as a gambling market or business location. Instead, the affected functions happened to be based there.

He confirmed that Coolbet’s headquarters would remain in Tallinn and that Estonia continued to be important to both the company’s operations and its consumer brand.