William Hill will shut around 200 of its UK betting shops as parent company Evoke looks to steady its heavily indebted balance sheet ahead of a potential tax raid in next month’s budget.
The move comes as the Competition and Markets Authority (CMA) and Treasury consider tougher rules and levies for the gambling sector, which has already been hit hard by the £2 stake cap on fixed-odds betting terminals (FOBTs).
Evoke, formerly 888 Holdings, confirmed that it is “continuously reviewing and adapting our shop portfolio to ensure it aligns with our long-term strategy for sustainable, profitable growth”.
Sources close to the company told the Times between 120 and 200 shops are expected to close – around one in ten of its 1,300-strong estate – with up to 1,500 jobs at risk.
