Coolbet Announces Collective Redundancies Affecting 134 Roles at Estonian HQ

Coolbet has begun a formal collective redundancy consultation in Estonia that will impact approximately 134 positions at its VG Estonia OÜ headquarters, the company confirmed on 30 October 2026. The Tallinn-based entity notified the Unemployment Insurance Fund (Töötukassa) and Coolbet Chief Operating Officer Tomas Graham said the final scope will be clear after the consultation process ends.

Scale and immediate impact

VG Estonia OÜ employed more than 300 people at the end of the third quarter of 2026, so the planned cuts would remove nearly half of the Tallinn headquarters workforce. Business daily Äripäev reported the targeted layoffs total 134 positions. Across the wider Coolbet group, the company employs more than 1,100 staff.

"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," Tomas Graham, Chief Operating Officer at Coolbet, told local media.

Reasons given by management

Graham attributed the restructuring to a mix of commercial and regulatory factors. He cited “business challenges, weaker than expected B2B performance, and growing tax and regulatory pressures across key operating markets” as drivers of the decision. He added that the aim is to secure Coolbet’s long-term sustainability and competitiveness and that the company intends to run the process responsibly.

Financial context

VG Estonia’s latest public accounts for 2024 showed a turnover of €23 million and a net profit of €311,000. Quarterly filings to the Tax and Customs Board (Maksu- ja Tolliamet, MTA) indicate turnover for the current year has approached €60 million, with an average gross monthly wage of €4,100 reported in those filings. Annual financial reports for 2025 are still pending.

Local operations and continuity

Despite the planned redundancies at VG Estonia OÜ, Coolbet continues to operate Staycool OÜ, a second Estonian company that provides localized online casino and sports betting services within the regulated Estonian market. The group formally notified the Unemployment Insurance Fund (Töötukassa) as required by Estonian labour procedures.

"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," Graham said.

Reporting and next steps

The consultation process with employees is now underway; Coolbet has not published a timetable for completion. Local reporting and company statements will determine the final number of roles eliminated and which departments are affected.