The owner of betting giant William Hill has confirmed it is closing high street shops after the Government hiked taxes on gambling firms in last year’s Budget. Evoke previously warned it could close up to 200 stores if the tax raid went ahead.
The owner of betting giant William Hill has confirmed it is shutting high street shops after a fresh tax raid on gambling firms in last year’s Budget.
Evoke, which also owns online betting brand 888, had previously warned it could close up to 200 stores if the Government pressed ahead with higher gambling taxes as part of its push to plug the public finances.
The closures come after Chancellor Rachel Reeves announced sweeping tax hikes on online gambling firms in November, arguing the industry should pay more amid record profits and rising concerns over problem gambling.
READ MORE: Value Scope: Each way horseracing tips from Steve Jones for Saturday on ITVREAD MORE: Ex-Paddy Power boss claims bookies ‘suck’ punters towards harmful gambling to boost profits
High streets across the UK have already been battered by rising rents, soaring energy bills, and the shift to online shopping, with banks, post offices and retailers disappearing from many town centres.
Betting shops have been among the most visible survivors, but that is now changing as tougher regulation and higher taxes squeeze profits.
The move reflects a wider shift away from bricks-and-mortar betting, with more punters now placing wagers through apps and websites. The trend accelerated during the pandemic and never fully reversed.
Bosses at Evoke said the company has moved “quickly and decisively” to soften the blow from the Budget as it continues to explore a possible sale of the business.
Evoke launched a strategic review in December following the tax increases and confirmed it has already taken action by shutting loss-making betting shops and pushing through cost-cutting measures across the group.
Chief executive Per Widerström said: “We have moved quickly and decisively to execute on our mitigation plans, including the closure of retail stores that are no longer sustainable as well as broader cost savings. We will update shareholders on our progress and updated strategic plan in due course.”
The firm previously said it expects to offset around half the impact of the tax rises through store closures alone. It is also looking to claw back savings through changes to customer offers, renegotiating with suppliers, and scaling back in some markets.
While Evoke has not yet confirmed how many sites will shut, it had warned before the Budget that as many as 200 could be at risk if taxes increased.
The move comes despite a stronger end to the year for the group. Evoke posted encouraging final-quarter earnings for 2025, with group revenue hitting £464 million, which is up 7% on the previous three months.
However, UK betting revenue slumped by 22% in the final quarter. Total group revenue for 2025 is forecast at £1.786 billion, up around 2% year on year.
