Why William Hill could close up to 200 betting shops - and how fear of gambling tax rises is a driving factor

Evoke, the parent company of bookmaker William Hill, is reportedly preparing to shed a significant share of its betting shop estate, putting up to 1,500 jobs in jeopardy. Here we explain why the betting operator is considering this option.

What is happening?

The bosses of Evoke, a London Stock Exchange-listed company that also owns the 888 and Mr Green brands, are working on plans to close between 120 to 200 betting shops in Britain, according to a report in The Sunday Times.

There are 1,300 William Hill betting shops spread across Britain, with the potential closures equating to between nine and 15 per cent of the bookmaker’s licensed betting office (LBO) estate.

Why is this being considered?

Evoke is dealing with the twin challenges of high debt and the likelihood of increases in tax when chancellor of the exchequer Rachel Reeves unveils her budget on November 26.

Evoke’s share price has dropped from a high of 71.45p in January last year to less than 46p when the stock market closed on Friday.

While in August the company reported improved financial performance for the first half of 2025, retail revenue dropped by two per cent compared to the same period last year. Performance was chiefly driven by gaming and results in international markets.

The organisation also has an overall debt burden of £1.8 billion, far in excess of its market value of £210 million.

How much of an impact are tax proposals having on William Hill?

In August, Evoke’s chief financial officer Sean Wilkins said the “gaming industry was a reasonably easy target” for a government needing to raise cash, but that a “balanced approach” was necessary to prevent players from being driven to the black market, circumstances resulting in a diminished tax take and player protection.

Since then, the government has increasingly signalled that a rise in betting taxes is to be expected next month. Speaking at the Labour Party conference, Reeves said bookmakers needed to pay their “fair share”, albeit acknowledging the economic contribution they make.

The potential for 1,500 jobs to be lost through William Hill LBO closures comes after comments made by Stella David, chief executive of Entain, parent company of Ladbrokes and Coral, who said that shop closures, impacting some of the company’s 14,000 staff in Britain, would be a possibility if taxes were increased too much.

William Hill: branding is a familiar sight at racecoursesCredit: JOHN GROSSICK

Where would betting shop closures leave racing’s finances?

LBOs are a significant contributor to racing’s finances through media rights payments and levy. Last month, in response to 101 Labour MPs writing to Reeves to lobby for increases in gambling tax, analyst Regulus Partners estimated that LBOs added £100m in media rights and £40m in levy annually.

Financial modelling commissioned by the BHA has estimated British racing would lose out on £66m a year if betting duties were harmonised at 21 per cent, with this increasing to £160m a year if the rates reached 40 per cent on general betting duty and remote gaming duty.

What have Evoke said?

In a statement to The Sunday Times, an Evoke spokesman said it was “continuously reviewing and adapting our shop portfolio to ensure it aligns with our long-term strategy for sustainable, profitable growth”.

The spokesman added: “As a regulated and licensed UK operator, we are also mindful of potential tax increases in the forthcoming budget on top of the rising costs.

“As part of our ongoing planning, we are assessing the potential impact of different tax scenarios on our UK operations. This includes the difficult but necessary consideration for further shop closures.”

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