Coolbet's Estonian headquarters notified the Unemployment Insurance Fund (Töötukassa) of its plans.

Coolbet COO Tomas Graham told ERR that the restructuring planned at VG Estonia, part of the Coolbet group, affects around 130 positions across the organisation. "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," he said.

Graham said the restructuring is needed to adapt to changing business needs and market conditions. "The need for restructuring stems from a combination of factors, including business challenges, weaker than expected results in the B2B side and growing regulatory and tax pressure in several of our markets," he said.

"The aim of the restructuring is to ensure Coolbet's long-term sustainability and competitiveness," Graham added. "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."

The total number of layoffs is 134, business daily Äripäev reported.

VG Estonia OÜ, Coolbet's registered Estonian company name, had more than 300 employees on payroll as of the end of the third quarter this year, meaning nearly half of these are to be laid off.

The company says on its website that its international team comprises more than 1,100 people, including the 300 at the Tallinn head office.

The company has not yet filed its annual financial report for 2025, but in 2024, VG Estonia's turnover was reported at €23 million, with a net profit of €311,000.

According to quarterly reports submitted to the Tax and Customs Board (MTA), turnover this year has come to nearly €60 million. The average wage was reported at €4,100 per month gross.

Coolbet operates a second Estonian company, Staycool OÜ, which provides online gambling and sports betting services inside Estonia.

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