{"id":72944,"date":"2025-12-10T16:31:11","date_gmt":"2025-12-10T16:31:11","guid":{"rendered":"https:\/\/www.sportscasting.com\/uk\/?p=72944"},"modified":"2025-12-10T18:19:11","modified_gmt":"2025-12-10T18:19:11","slug":"william-hill-could-be-sold-as-owner-evoke-feels-the-bite-of-new-uk-gambling-tax-laws","status":"publish","type":"post","link":"https:\/\/www.sportscasting.com\/uk\/news\/william-hill-could-be-sold-as-owner-evoke-feels-the-bite-of-new-uk-gambling-tax-laws\/","title":{"rendered":"William Hill Could Be Sold As Owner Evoke Feels The Bite Of New UK Gambling Tax Laws"},"content":{"rendered":"<p><strong>William Hill owner Evoke has put itself and all of its business assets up for sale in response to the new gambling tax laws announced in November\u2019s Budget.<\/strong><\/p>\n<p>The London-listed company, which also owns the 888 online casino brand and Mr Green, <a href=\"https:\/\/ir.design-portfolio.co.uk\/viewer\/106\/87680\">issued a statement on Wednesday<\/a> (December 10) confirming that the board of Directors had &#8220;decided to undertake a review of the company&#8217;s strategic options\u201d.<\/p>\n<p>No option is off the table, from the sale of individual divisions of the business to selling the group as a whole, \u201cto maximise shareholder value\u201d.<\/p>\n<h2>Thousands Of Job Cuts<\/h2>\n<p>Chancellor <a href=\"https:\/\/www.sportscasting.com\/uk\/news\/remote-gaming-duty-uk-budget-2025\/\">Rachel Reeves increased Remote Gaming Duty<\/a> from 21% to 40% in her Autumn Budget, confirming the gambling industry\u2019s worst fears.<\/p>\n<p>That 40% duty will kick in from April next year and General Betting Duty will increase from 15% to 25% from April 2027 for everything but horseracing.<\/p>\n<p>Evoke paid tax and duty of \u00a3329 million to the UK Exchequer in 2024, which was more than 60% of its UK profits.<\/p>\n<p>The company issued a profit warning on the evening of the November 26 Budget.<\/p>\n<figure id=\"attachment_72948\" aria-describedby=\"caption-attachment-72948\" style=\"width: 560px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-medium wp-image-72948\" src=\"https:\/\/www.sportscasting.com\/uk\/wp-content\/uploads\/sites\/3\/2025\/12\/Evoke-CEO-Per-Widerstrom-560x373.jpg\" alt=\"Evoke CEO Per Widerstrom\" width=\"560\" height=\"373\" srcset=\"https:\/\/www.sportscasting.com\/uk\/wp-content\/uploads\/sites\/3\/2025\/12\/Evoke-CEO-Per-Widerstrom-560x373.jpg 560w, https:\/\/www.sportscasting.com\/uk\/wp-content\/uploads\/sites\/3\/2025\/12\/Evoke-CEO-Per-Widerstrom-924x616.jpg 924w, https:\/\/www.sportscasting.com\/uk\/wp-content\/uploads\/sites\/3\/2025\/12\/Evoke-CEO-Per-Widerstrom-350x233.jpg 350w, https:\/\/www.sportscasting.com\/uk\/wp-content\/uploads\/sites\/3\/2025\/12\/Evoke-CEO-Per-Widerstrom-768x512.jpg 768w, https:\/\/www.sportscasting.com\/uk\/wp-content\/uploads\/sites\/3\/2025\/12\/Evoke-CEO-Per-Widerstrom.jpg 1200w\" sizes=\"(max-width: 560px) 100vw, 560px\" \/><figcaption id=\"caption-attachment-72948\" class=\"wp-caption-text\">Evoke CEO Per Widerstrom<\/figcaption><\/figure>\n<p>It estimated that once both new rates are in force, Evoke\u2019s tax obligations would go up anywhere between \u00a3125 million to \u00a3135 million annually.<\/p>\n<p>CEO Per Widerstrom was damning in his immediate response to the news, calling the proposed measures \u201cill-thought-through, counterproductive, and highly damaging\u201d.<\/p>\n<p>Widestrom also confirmed that Evoke would have to begin an immediate process of evaluating its options.<\/p>\n<p>He warned that it would include \u201cthe likely need for thousands of jobs to be cut up and down the country\u201d.<\/p>\n<h2>What Happens Next For William Hill?<\/h2>\n<p>Evoke has appointed Morgan Stanley and Rothschild &amp; Co as its joint financial advisers during the review process.<\/p>\n<p>The Gibraltar-headquartered firm also advised shareholders in its letter of intent that there is no certainty that any transaction will materialise.<\/p>\n<p>In July 2022 Evoke paid around \u00a32.2 billion to buy William Hill.<\/p>\n<p>At that time it was trading as 888 Holdings and was operating as an online casino company.<\/p>\n<p>The <a href=\"https:\/\/www.evokeplc.com\/news-and-media\/latest-news\/888-holdings-plc-completes-acquisition-william-hill-international\/\">acquisition of William Hill<\/a> and its 1,400 shops was the company\u2019s first move into land-based betting, but it has been a turbulent period of ownership.<\/p>\n<p>Evoke\u2019s net debt stood at \u00a31.82 billion after the first six months of this year and since the November 26 Budget had been announced, shares of the company lost more than 36% of their value.<\/p>\n<p>Today\u2019s statement to the London stock market saw share values rise again by 10%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>William Hill owner Evoke has put itself and all of its business assets up for sale in response to the new gambling tax laws announced in November\u2019s Budget. The London-listed company, which also owns the 888 online casino brand and Mr Green, issued a statement on Wednesday (December 10) confirming that the board of Directors [&hellip;]<\/p>\n","protected":false},"author":457,"featured_media":72945,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[2039],"tags":[2061,2063,2062,2064,2060],"class_list":["post-72944","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-betting-news","tag-evoke","tag-gambling-tax","tag-per-widerstrom","tag-remote-gaming-duty","tag-william-hill"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>William Hill Up For Sale As A Result Of UK Gambling Tax Rise<\/title>\n<meta name=\"description\" content=\"William Hill owner Evoke has put itself and 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Munro","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.sportscasting.com\/uk\/wp-content\/uploads\/sites\/3\/2025\/12\/avatar_user_457_1765214917-96x96.jpg","url":"https:\/\/www.sportscasting.com\/uk\/wp-content\/uploads\/sites\/3\/2025\/12\/avatar_user_457_1765214917-96x96.jpg","contentUrl":"https:\/\/www.sportscasting.com\/uk\/wp-content\/uploads\/sites\/3\/2025\/12\/avatar_user_457_1765214917-96x96.jpg","caption":"Jim Munro"},"description":"Jim Munro has been a sports journalist for over 30 years, working as a reporter and Football Editor of The Sunday Times through four World Cups and four European Championships, before moving to The Sun as its Digital Sports Editor. As well as gaining exclusive interviews across Football, Boxing and Formula 1, he has extensive knowledge of the sports gambling industry and worked on the launch of Virgin Bet with Gamesys, ahead of spending five years as Head of Editorial at LiveScore. Jim served as a committee member of the Sports Journalists' Association for four years and had a column 'Speaking Personally' in West Ham's match programme for several seasons. He is a regular contributor to sports podcasts including Stop! Hammer Time.","sameAs":["https:\/\/www.instagram.com\/jim_munro\/","https:\/\/www.linkedin.com\/in\/jim-munro-munromedia\/","https:\/\/uk.pinterest.com\/JamesMunro\/","https:\/\/x.com\/https:\/\/x.com\/JimMunro","https:\/\/www.youtube.com\/@BadLadDad","https:\/\/en.wikipedia.org\/wiki\/Jim_Munro_(journalist)"],"url":"https:\/\/www.sportscasting.com\/uk\/author\/jimmunro\/"}]}},"_links":{"self":[{"href":"https:\/\/www.sportscasting.com\/uk\/wp-json\/wp\/v2\/posts\/72944","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sportscasting.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sportscasting.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sportscasting.com\/uk\/wp-json\/wp\/v2\/users\/457"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sportscasting.com\/uk\/wp-json\/wp\/v2\/comments?post=72944"}],"version-history":[{"count":5,"href":"https:\/\/www.sportscasting.com\/uk\/wp-json\/wp\/v2\/posts\/72944\/revisions"}],"predecessor-version":[{"id":72951,"href":"https:\/\/www.sportscasting.com\/uk\/wp-json\/wp\/v2\/posts\/72944\/revisions\/72951"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.sportscasting.com\/uk\/wp-json\/wp\/v2\/media\/72945"}],"wp:attachment":[{"href":"https:\/\/www.sportscasting.com\/uk\/wp-json\/wp\/v2\/media?parent=72944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sportscasting.com\/uk\/wp-json\/wp\/v2\/categories?post=72944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sportscasting.com\/uk\/wp-json\/wp\/v2\/tags?post=72944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}