The Paddy Power and Betfair owner was well placed to excel as the US opened up to sports betting, but the emergence of prediction markets like Kalshi have slowed its growth while tax and policy changes elsewhere have also weighed it down.
The Government’s own plan is to increase budgetary reliance on windfall corporation tax receipts. Something has to give before it’s too late, its fiscal watchdog has warned.
The EU warns Irish State coffers depend on “a few individual companies”, as confirmed in new Exchequer figures for May.
New figures from Amazon’s cloud-computing division show that it is no longer ploughing money as fast into Irish data centres as it is globally.
The Dublin office of the social media platform formerly known as Twitter has lost revenue, haemorrhaged staff and accumulated legal disputes under Elon Musk’s ownership. Meanwhile, its competitors thrived.
The High Court has clarified the tax treatment of foreign withholding tax on royalties collected by an Irish subsidiary of the consulting multinational.
Tech multinationals pay a disproportionate amount of income tax, USC, and PRSI. While the spotlight has been on potential swings in corporation tax, AI-driven job cuts, too, could threaten Ireland’s budget balance.
A pre-budget visit by executives from Medtronic, Eaton, and Johnson Controls to then-minister Paschal Donohoe was just the latest in efforts to preserve the position of their Irish HQs as the transatlantic tax playing field levels.
The US database giant first arrived in Ireland in 2013 and has grown aggressively ever since. Now, it plans to invest a further €74 million into its Irish operation and add over 200 new jobs.
The Department of Finance forecast a €3bn boost from the new 15 per cent tax on multinationals in Budget 2026. It’s now clear there will be more in a full year.
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