March 31 (Reuters) - British betting firm Evoke plans to close about 200 betting shops in UK, following a crackdown on the gambling sector by Chancellor of the Exchequer Rachel Reeves, Bloomberg News
Evoke shuts UK betting shops amid rising costs and tax hikes
Evoke's Response to Economic Pressures and Regulatory Changes
Announcement of Shop Closures
March 31 (Reuters) - British betting group Evoke will shut a number of betting shops from May, the company said, citing rising cost pressures and higher taxes imposed in the government's autumn budget last year.
Extent of Closures
Bloomberg News earlier reported that William Hill owner Evoke plans to close about 200 UK stores after a government crackdown on the gambling sector. Evoke did not immediately confirm the number of closures to Reuters.
Company Statement
"In the face of rising cost pressures we must take action to ensure we can continue to invest in our core retail estate, with the right shops, in the right locations,” a company spokesperson said in a statement.
Financial Impact and Strategic Review
Review of Business Options
The company in December announced that it was reviewing options including a potential sale of the company, after UK tax hikes on online gaming and sports betting forced it to withdraw its medium-term outlook.
Outlook and Investor Sentiment
The British bookmaker further withheld its 2026 outlook in late January, leaving investors in the dark.
Share Performance
Shares in the company, which fell more than 63% last year, have risen 54% so far this year.
Reporting Credits
(Reporting by Sri Hari N S in Bengaluru; Editing by Shailesh Kuber and Hugh Lawson)
