"Evoke, the heavily indebted gambling group that owns William Hill in the UK as well as the 888 brand, has put itself up for sale as it grapples with rising costs and regulatory pressure. The company said it is undertaking a review of its strategic options, which includes the possibility of selling the business. Investment banks Morgan Stanley and Rothschild have been appointed as joint financial advisers to oversee the process,"
"From April 2026, the rate of remote gaming duty will rise from 21 per cent to 40 per cent, while tax on online sports betting will increase from 15 per cent to 25 per cent. Evoke has already withdrawn its medium-term financial targets in response, warning that the new tax regime will add between £125 million and £135 million to its annual duty bill once fully implemented. An £80 million hit is expected in the next financial year alone."
Evoke owns William Hill in the UK and the 888 brand and is heavily indebted. The company has initiated a review of strategic options that includes the possibility of selling the business and has appointed Morgan Stanley and Rothschild as joint financial advisers. Evoke warned it will close around one in ten betting shops next year to stabilise finances. Performance has declined while the debt burden remains significant. Budget changes raise remote gaming duty from 21% to 40% and online sports betting tax from 15% to 25% from April 2026. The new tax regime is expected to add £125–135 million annually, with an £80 million hit next year, prompting the board to reassess the company's future direction.
Read at Business Matters
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