Evoke plc, the parent company of bookmaker William Hill, is reportedly preparing to close a significant portion of its UK betting shop network as the government considers steep gambling tax hikes in the upcoming November Budget. The potential closures could affect between 120 and 200 of its 1,300 retail outlets, threatening around 1,500 jobs across Britain.

According to a report from The Sunday Times, cited by Racing Post, the closures represent between 9% and 15% of Evoke’s total betting shop estate. The company, which also owns the 888 and Mr Green brands, is said to be drawing up contingency plans as it braces for a potential rise in gambling duties.

Evoke Weighs Closures Amid Tax Uncertainty

The anticipated tax rise comes as Chancellor Rachel Reeves prepares to present her first budget on November 26. Industry insiders expect a sweeping increase in gambling levies, possibly under a “polluter pays” model designed to help fill the Treasury’s £30 billion fiscal gap. Former Prime Minister Gordon Brown and over 100 Labour MPs have reportedly backed such an approach.

Evoke’s leadership has warned that any significant tax increase could severely affect investment and profitability in the UK market. An Evoke spokesperson stated: “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.”

Although no final decision has been made, company sources revealed that the extent of any closures will depend on the final tax rate confirmed in the budget.

Financial Strain and Market Headwinds

Evoke’s reported restructuring comes amid broader financial pressures. The London Stock Exchange-listed firm carries around £1.8 billion in debt, much of it stemming from its 2022 acquisition of William Hill for £2 billion. Despite modest improvements in performance during the first half of 2025, retail revenue fell by 2% compared to the previous year, while overall company value has dropped sharply.

The firm’s share price, which peaked at 71.45p in early 2024, had fallen below 46p by the end of last week’s trading. These headwinds, combined with the threat of higher taxes, have led Evoke executives to assess all strategic options for maintaining sustainable growth.

Chief financial officer Sean Wilkins previously described the gambling industry as “a reasonably easy target” for governments seeking to raise revenue. He cautioned, however, that a “balanced approach” was crucial to avoid pushing gamblers toward unregulated platforms—an outcome that would reduce tax income and weaken consumer protections.

Potential Ripple Effects on the Racing Industry

Beyond Evoke’s business operations, the proposed tax hikes could have far-reaching consequences for British horse racing, which relies heavily on bookmakers’ media rights payments and levy contributions. Analyst Regulus Partners estimates that licensed betting offices contribute around £140 million annually to the racing industry.

Financial modelling commissioned by the British Horseracing Authority (BHA) suggests that if betting duties were harmonized at 21%, racing could lose up to £66 million per year. That figure could soar to £160 million in annual losses if the tax rate reached 40% on general and remote gaming duties.

Entain CEO Stella David has also voiced concerns about the tax changes, suggesting her company—which owns Ladbrokes and Coral—could be forced to consider similar closures.

Government Defends Consultation Process

Despite the growing backlash from the gambling sector, the Treasury maintains that its current consultation process is not intended to raise overall taxes. A government spokesperson said: “We are consulting on bringing online betting in line with other forms of online gambling to cut down bureaucracy. It is not about increasing or decreasing tax rates, and we welcome all views.”

Nevertheless, many in the betting and racing industries remain skeptical, warning that even modest rate changes could trigger widespread closures across the high street. For Evoke, the final outcome of the November Budget could determine the fate of hundreds of William Hill shops—and thousands of employees—across the country.