Evoke, previously known as 888 Holdings, the parent of betting giant William Hill, has warned there could be store closures amid concern of rising taxes on gambling.
Entain, the boss of fellow betting giant Ladbrokes, has already warned of potential store closures if the tax increase goes ahead.
As part of the Labour Party’s autumn budget, it is expected that a rise in gambling tax will be announced in November when Rachel Reeves, the Chancellor of the Exchequer, details her plans for the budget.
In response to the potential tax hike, Evoke has said it may be forced to close up to 200 betting shops across the UK.
What Did Evoke Say About The Potential Closures?
A spokesperson for the company said the potential tax rise would “affect investment in the UK”. The company is said to be assessing the impact on business that a tax increase could have, which could include reducing UK operations through store closures.
William Hill has over 1,300 stores in the UK, and although shutting 200 would leave 1,100 stores in operation, it would still be a massive hit to the business.
Interestingly, the potential closures coincide with the launch of the William Hill Vegas updated app, which could see more business turn to the online world if shops close.
The rising concern over how the taxes may affect the UK gambling sector has been raised by several prominent individuals in the Igaming industry.
On the contrary, Labour MPs signed a letter approving the change and urged the government to raise the tax for gaming machines from 20 to 50 percent.
However, no decision regarding raising gambling taxes or William Hill store closures has been made yet.
We will continue to bring you the latest news about the potential tax rise and how it will affect the UK betting sector.
