Evoke, the owner of William Hill and 888, has confirmed plans to close around 270 betting shops as it seeks to mitigate the impact of increased taxes. The debt-laden gambling firm announced the closures following a review of its estate, with the move expected to result in hundreds of job losses, although the exact number has not yet been disclosed.
The company revealed that pre-tax losses more than doubled to £549.1 million in 2025, up from £220.9 million in 2024, driven largely by UK tax hikes. Evoke attributed the deterioration to a £440.3 million impairment charge reflecting the increased gambling duty.
These developments come amid talks over a potential £225.3 million takeover by Greek lottery and gaming firm Bally's Intralot. Evoke had effectively put itself up for sale late last year when it launched a strategic review, struggling under mounting debts and the impact of the November betting tax rise.
The tax changes, announced by Chancellor Rachel Reeves in the 2025 autumn budget, include raising remote gaming duty from 21% to 40% from April, and introducing a new online sports betting duty of 25% from 2027, covering all sports except horse racing. Evoke estimates these measures will increase its annual duty costs by up to £135 million by 2027.
Per Widerstrom, chief executive of Evoke, said: “The significant UK duty increases announced in November represented a fundamental shift in the economics of our largest market and will have a substantial impact across the regulated industry. We have acted decisively to mitigate the impact of these changes and protect long-term shareholder value, including initiating a strategic review and implementing significant operational actions across the business.”
