William Hill is considering the closure of 200 of its UK betting shops as parent company Evoke seeks to stabilise its heavily indebted balance sheet ahead of a potential tax raid in next month’s budget.
The decision emerges as the Gambling Commission and Treasury contemplate stricter regulations and levies for the gambling sector, which has already suffered significantly from the £2 stake cap on fixed-odds betting terminals (FOBTs), as reported by City AM.
Evoke, previously known as 888 Holdings, has confirmed that it is “continuously reviewing and adapting our shop portfolio to ensure it aligns with our long-term strategy for sustainable, profitable growth”.
Industry sources informed the Times that between 120 and 200 outlets are anticipated to shut – approximately one in ten of its 1,300-strong portfolio – placing up to 1,500 positions in jeopardy.
The assessment forms part of a broader cost-reduction initiative as Evoke attempts to diminish its £1.8bn debt burden against a market capitalisation of roughly £210m.
The firm recorded a £78m pre-tax loss during the opening six months of 2025, with retail revenues declining by two per cent.
‘Tax hikes would hurt jobs and invesment’
The shutdowns arrive amidst mounting speculation that Rachel Reeves will increase gambling duties in her 26 November budget, following pressure from former prime minister Gordon Brown, who has branded the sector ‘undertaxed’. The Institute for Public Policy Research (IPPR) calculates that raising the remote gambling duty from 21 per cent to 50 per cent, combined with increases to betting and gaming machine duties, could generate over £3bn for the Treasury.
Industry chiefs have cautioned that such measures might have devastating effects on high street bookmakers.
Stella David, chief executive of Entain, which operates Ladbrokes and Coral, warned earlier this month that higher taxes might prompt widespread closures and reduced investment.
“Every point of [tax] increase would actually have an impact that certain shops would become unviable” David said. “Having a dislocating increase in tax will have a dislocating impact on the industry”.
She added that the “biggest winner by far from higher gambling taxes would be the black market”, citing the Netherlands as an example where tax rises pushed players towards unlicensed sites.
‘End of an era’ for the high street bookmaker
This development would underscore a more profound transformation in Britain’s gambling sector.
Following the 2019 FOBT stake reduction, high street betting has found it difficult to bounce back from losing what was previously its most profitable offering.
During its heyday, each machine produced approximately £52,000 annually – double the typical UK wage – and represented a substantial portion of bookmaker earnings.
The restriction triggered thousands of closures, with William Hill closing 700 outlets soon after the policy took effect. Former sports minister Tracey Crouch, who spearheaded the reform, has contended that the sector’s shrinkage was “inevitable”, attributing it to overexpansion during the years of easy profit.
Simultaneously, the surge in online gambling continues to diminish the significance of high street shops.
The UK Gambling Commission disclosed that online betting revenues escalated from £4.2bn to £5.6bn between 2015 and 2018, while retail earnings remained static.
Challenging but essential decisions
A spokesperson for Evoke stated that the group is still dedicated to enhancing its retail performance but must stay pragmatic in view of potential tax alterations and evolving consumer behaviour.
“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.As part of our ongoing planning, we are assessing the potential impact of different overall tax scenarios on our UK operations. This includes the difficult but necessary consideration for shop closures”, the company said.
Industry insiders caution that the consolidation is likely to persist. Analysts at Goodbody Gaming predict that as many as 3,000 additional closures could ensue across the sector if higher taxes are implemented.
For the traditional bookmaker, the odds on survival are dwindling day by day.
