Coolbet begins collective redundancy consultations affecting over 130 roles in Estonia

Coolbet has started a restructuring at its Estonian subsidiary that will involve consultations on collective redundancies affecting approximately 130 positions, company Chief Operating Officer Tomas Graham confirmed and the financial daily Äripäev reported. The notice was filed with the Estonian Unemployment Insurance Fund (Töötukassa) on 30 October 2026, and the firm said the final number of affected roles will be known after the consultation period concludes.

## Scope and context of the restructuring

VG Estonia OÜ, which operates as the group's primary legal entity in Estonia, said the reorganisation responds to several factors: general trading difficulties, a weaker-than-expected B2B performance and rising fiscal and regulatory burdens across several key markets. Tomas Graham said:

"We have initiated the formal consultation process on collective redundancies, and the final scope of the dismissals and the roles affected will be clarified when it concludes. Nothing has been decided definitively today." — Tomas Graham, Chief Operating Officer, Coolbet

The daily Äripäev places the target total at 134. At the close of the third quarter VG Estonia employed more than 300 people, so the proposed reductions would affect almost half of the Tallinn headcount. Across the group, Coolbet maintains a workforce of over 1,100 employees.

## Financial position and domestic operation

Public accounts for 2024 show VG Estonia recorded revenue of €23,000,000 and a net profit of €311,000. Quarterly reports filed with the Estonian Tax and Customs Board (MTA) indicate year-to-date revenue approaches €60,000,000, with an average gross monthly salary of €4,100.

Despite the restructuring at VG Estonia, Coolbet continues to operate in the Estonian market through its second local company, Staycool OÜ, which provides online casino and sports betting services under domestic regulation. The company lists long-term sustainability and competitiveness as the objectives of the organisational adjustment.

"The aim of the restructuring is to secure Coolbet's long-term sustainability and competitiveness. We recognise the changes affect our employees and are committed to conducting the process with responsibility and respect." — Tomas Graham

## Next steps

VG Estonia is in the consultation period with Töötukassa; the company has said the final composition of redundancies will be set after that process. The regulatory and fiscal pressures cited by the firm affect several markets where Coolbet operates and have driven the structural adjustment to cut costs and realign operations to current business direction. For information on regulation and markets consult /regulation.