William Hill owner Evoke reveals £46m earnings hit from gambling taxes
Evoke, owner of William Hill and 888, faces a £46 million earnings hit due to increased gambling taxes while preparing for a £243 million takeover.Summary
Evoke, the owner of William Hill and 888, has reported a £46 million earnings hit due to increased gambling taxes in the UK. The London-listed firm's underlying earnings slumped 10% to £150.2 million in the six months to June 30, largely due to the UK Government's hike in remote gaming duty from 21% to 40% in April. Additionally, former Chancellor Rachel Reeves announced a new online sports betting duty of 25% for 2027, which Evoke warned will increase its annual duty costs by up to £135 million. Despite these challenges, Evoke is preparing for a £243 million takeover by Greek gambling firm Bally's Intralot. The company has also shut around 200 betting shops to cut costs and offset the tax impact, having managed to mitigate over half of the gaming duty hike through marketing efficiency and operational savings.
(Source：Yorkshire Post)