William Hill to close 200 betting shops as gambling industry faces mounting tax pressure

cityam

Oct 12

Since the 2019 FOBT stake cut, high street betting has struggled to recover from the loss of what was once its most lucrative product. William Hill will shut around 200 of its UK betting shops as ...

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William Hill will shut around 200 of its UK betting shops as ...</p>\n\n<a href=\"https://www.cityam.com/william-hill-to-close-200-betting-shops-as-gambling-industry-faces-mounting-tax-pressure/\">Source Link</a>\n\n</div>\n","source":"cityam_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>William Hill to close 200 betting shops as gambling industry faces mounting tax pressure</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWilliam Hill to close 200 betting shops as gambling industry faces mounting tax pressure\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-10-12 16:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cityam.com/william-hill-to-close-200-betting-shops-as-gambling-industry-faces-mounting-tax-pressure/><strong>cityam</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Since the 2019 FOBT stake cut, high street betting has struggled to recover from the loss of what was once its most lucrative product. William Hill will shut around 200 of its UK betting shops as ...</p>\n\n<a href=\"https://www.cityam.com/william-hill-to-close-200-betting-shops-as-gambling-industry-faces-mounting-tax-pressure/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CMA","symbol_name":"联信银行","start_time":0,"source_url":"https://www.cityam.com/william-hill-to-close-200-betting-shops-as-gambling-industry-faces-mounting-tax-pressure/","article_id":"2574523491","we_media_id":null,"thumbnails":["https://www.cityam.com/wp-content/uploads/2025/08/GettyImages-1159984241-e1755095677904.jpg?w=824&h=463&crop=1"],"rights":{"source":"cityam_highlight","url":"https://www.cityam.com/william-hill-to-close-200-betting-shops-as-gambling-industry-faces-mounting-tax-pressure/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2574523491","pubTimestamp":1760259492,"columns":[],"sourceInfo":{"source_id":"cityam_highlight","name":"cityam"},"weMediaInfo":null,"summary":"Since the 2019 FOBT stake cut, high street betting has struggled to recover from the loss of what was once its most lucrative product. 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  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 .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.","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"CMA":"联信银行","BK4207":"综合性银行","BK4589":"SVB概念","BK4211":"区域性银行","BK4588":"碎股","BK4585":"ETF&股票定投概念"},"translate_title":"由于博彩业面临越来越大的税收压力，威廉希尔将关闭200家博彩店","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CMA":1},"content_text":"Since the 2019 FOBT stake cut, high street betting has struggled to recover from the loss of what was once its most lucrative product. 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.\n\nThe review is part of a wider cost-cutting plan as Evoke seeks to reduce its £1.8bn debt pile against a market value of around £210m. The company posted a £78m pre-tax loss in the first half of 2025, with retail revenues falling by two  per cent.‘Tax hikes would hurt jobs and invesment’The closures come amid growing speculation that Rachel Reeves will raise gambling taxes in her 26 November budget, following pressure from former prime minister Gordon Brown, who has called the sector ‘undertaxed’.The Institute for Public Policy Research (IPPR) estimates that increasing the remote gambling duty from 21 per cent to 50 per cent, alongside hikes in betting and gaming machine duties, could raise more than £3bn for the Treasury.\n\nIndustry leaders have warned that such moves could have severe consequences for high street bookmakers. Stella David, chief executive of Entain, which owns Ladbrokes and Coral, said earlier this month that higher taxes could trigger widespread closures and investment cuts.“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”, pointing to the Netherlands as an example where tax hikes drove players to unlicensed sites.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}