William Hill owner Evoke to shut one in ten betting shops - report

(Sharecast News) - William Hill owner Evoke is reportedly gearing up to shut about one in ten of its betting shops in the new year as it battles to reverse its fortunes. According to The Times, bosses at Evoke are eyeing a raft of closures as part of a review of its high street bookmakers and ahead of expected tax rises in Rachel Reeves's budget on 26 November.

The final number of stores due to close has not yet been decided. However, one senior industry figure told The Times that 120 shops are to be shuttered. Other sources said the number of closures could be nearer 200. At the higher level, about 1,500 jobs could be lost.

The potential closures would equate to between 9% and 15% of William Hill's estate of about 1,300 shops.

A spokesman for Evoke told The Times it was "continuously reviewing and adapting our shop portfolio to ensure it aligns with our long-term strategy for sustainable, profitable growth".

Bosses were also understood to be looking at "scenarios" ahead of the budget, meaning the number of stores to close could vary according to the measures unveiled by Reeves.

The Evoke spokesman added: "As a regulated and licensed UK operator, we are also mindful of potential tax increases in the forthcoming budget on top of the rising costs.

"As part of our ongoing planning, we are assessing the potential impact of different tax scenarios on our UK operations. This includes the difficult but necessary consideration for further shop closures."