Flutter said group chief executive Peter Jackson would depart the top job at the end of September after eight years.

Parent firm Flutter blamed the closures on ‘increasing cost pressures and challenging market conditions’

Almost 250 staff are at risk of redundancy as a result of the change.

The gambling giant said it has purchased the remaining 5% of FanDuel it did not own from Boyd.

The Paddy Power and Betfair owner saw shares slump by more than a tenth in early trading.