William Hill to shutter approximately 200 betting shops following stake acquisition by ‘specialist investor’

(AsiaGameHub) –   Well-known UK bookmaker William Hill is planning to shut down approximately 200 locations following a comprehensive corporate review.

The evoke-owned operator has faced considerable pressure recently, specifically due to the increase in remote gaming duty to 40%, which was introduced in the Autumn Budget and is scheduled to take effect tomorrow (Wednesday, 1 April). 

In January, evoke indicated that it would be closing several William Hill outlets, a figure now estimated to be around 200. The company is also delaying the release of its FY25 financial results until 29 April as it carries out its strategic assessment. 

This assessment was first announced in December 2025, shortly after Chancellor of the Exchequer Rachel Reeves presented the Autumn Budget. It was noted that the review might result in the sale of the business or certain assets.

A representative for evoke informed SBC News: “Following an extensive evaluation and in light of growing cost burdens on the regulated industry—including the substantial tax hikes announced by the government in last year’s Autumn Budget—we will be closing a number of unsustainable shops starting in May.”

The retail betting sector in the UK has been struggling for several years. In the final quarter of 2025, between October and December, the gross gambling yield (GGY) from high-street bookmakers fell by 7% year-on-year to £549 million.

William Hill is not the only operator confirming closures. Entain’s Ladbrokes has shuttered several sites over the last couple of years, and Paddy Power announced widespread closures across the UK and Ireland last year. However, not every firm is scaling back, as BoyleSports has opened multiple new locations since 2022.

“We are providing full assistance to our retail staff who are impacted by these shutdowns,” the evoke spokesperson added.

“These are never easy choices to make, but in the face of mounting financial pressures, we must take steps to ensure we can continue to invest in our primary retail estate, focusing on the right shops in the right locations.”

Speculation grows over evoke’s future

The outlook for UK retail betting has become a political issue, particularly concerning adult gaming centres (AGCs), though calls to scrap the ‘aim to permit’ licensing rule could also affect traditional betting shops.

A group of Labour MPs, led by Dawn Butler, along with members of the Green Party, SNP, and some Conservatives—including veteran gambling reform proponent Iain Duncan-Smith—have been highly critical of the industry.

In contrast, Reform UK leader Nigel Farage has cautioned that most bookmakers could be “gone within a year” due to the tax changes confirmed in the Autumn Budget, while major high-street brand Betfred has warned that its entire estate of 1,287 shops could be at risk.

The broader situation is challenging for William Hill’s parent company, evoke. The announcement of the delayed FY25 accounts comes as the company’s share price falls and rumors of a potential breakup circulate. 

Reports suggest that Bally’s and Betfred are potential buyers for the struggling FTSE All Share member, which has seen its stock price drop by more than 28% to 34.05p over the last year. Its market capitalization is currently just above £150 million. 

Another concerning development for the group is today’s investment from Ironshield Capital Management. The firm, which identifies as a special situations investment manager focusing on stressed and distressed credit in Europe, has acquired a 6.07% stake in evoke.