"Evoke, the parent company behind betting giants William Hill and 888, has announced "quick and decisive" measures, including shop closures and significant cost reductions, to counteract recent government changes to gambling taxes. The move comes as the group continues to explore a potential sale. The company initiated a strategic review last December, following Chancellor Rachel Reeves' announcement of increased taxes for online gambling operators."
"Evoke stated it has acted to mitigate the financial blow from the November Budget, implementing both retail betting shop closures and group-wide cost-saving initiatives. Last year, the debt-laden firm warned that new online gaming duties and a fresh online sports betting tax would inflate its annual duty costs by as much as 135 million from 2027. Evoke had previously indicated it anticipated offsetting approximately half of these tax increases through store closures, alongside potential "changes to the customer proposition" and supplier efficiencies."
Evoke, parent company of William Hill and 888, has introduced shop closures and broad cost-reduction measures to respond to government gambling tax increases. The group launched a strategic review in December and is exploring a potential sale. Management says actions target mitigation of the November Budget’s financial impact through retail betting shop closures and group-wide efficiencies. The debt-laden firm warned that new online gaming duties and a fresh online sports betting tax could raise annual duty costs by as much as 135 million from 2027, and expected to offset roughly half via store closures, customer-proposition changes and supplier efficiencies. The exact number of closed sites was not confirmed.
Read at www.independent.co.uk
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