Online betting and gambling giant William Hill has announced plans to close up to 200 of its UK betting shops as its parent company, Evoke, is struggling to get its finances under control ahead of possible new tax hikes in next month’s budget.
Up to 1,500 Jobs, Under the Question Mark
The decision comes as both the Treasury and the Gambling Commission weigh up tighter regulations and higher levies on the betting industry, which has already suffered from the GBP 2 ($2.67) stake limit on fixed-odds betting terminals.
According to a spokesperson for the Treasury, they are currently “consulting on bringing online betting in line with other forms of online gambling to cut down bureaucracy”, welcoming “all views”.
Evoke, which rebranded from 888 Holdings in May 2024, said it is “continuously reviewing and adapting our shop portfolio to ensure it aligns” with their “long-term strategy for sustainable, profitable growth.”
According to sources for The Times, between 120 and 200 William Hill shops will close, or roughly one in 10 of its total 1,300 locations. This would automatically put as many as 1,500 jobs at risk.
The move is part of a broader plan to cut costs and reduce Evoke’s CGP 1.8 billion ($2.4 billion) debt, which now far outweighs its market value of around GBP 210 million ($280 million). The company reported a GBP 78 million ($104 million) pre-tax loss in the first half of 2025, with retail revenue down two percent.
The closures come as Chancellor Rachel Reeves faces mounting pressure to raise gambling taxes in her November 26 budget.
Former Prime Minister Gordon Brown has described the sector as “undertaxed,” in the context of the Institute for Public Policy Research, estimating that, by boosting the remote gambling duty from 21% to 50%, along with other levies, the state would gain more than GBP 3 billion ($4 billion).
Industry leaders say such moves could devastate high street bookmakers. Stella David, chief executive officer of Entain, which owns Ladbrokes and Coral, warned that higher taxes would make many shops unviable.
“Every point of [tax] increase would actually have an impact that certain shops would become unviable,” she said. “Having a dislocating increase in tax will have a dislocating impact on the industry.”
David also warned about the tax hikes’ potential of further sending players off to the black market, citing the Netherlands as an example.
Committed, But Grounded to Reality
A spokesperson for Evoke said the company remains committed to its retail business but must “remain realistic” given the potential tax changes.
“We are mindful of potential tax increases in the forthcoming Budget, which would impact investment in the UK and drive more customers to the black market. This includes the difficult but necessary consideration for shop closures,” the statement read.
For Britain’s high street bookmakers, the industry’s long decline may be entering another chapter.