William Hill, one of the UK’s largest betting companies, is set to close 200 high street stores within weeks, attributing the drastic move to the recent tax hikes introduced by the Labour government. The closures will inevitably lead to job losses, underscoring the financial strain on the industry caused by increased taxation.
The company, which competes with rivals such as Ladbrokes and Coral, has cited “significant tax increases” announced in the government’s latest Autumn Budget as the primary reason behind the closures. These legislative changes include a sharp doubling of taxes on online gaming from 21% to 40%, and an increase in taxes on online sports betting from 15% to 25%.
William Hill’s parent company, Evoke Gaming, issued a statement explaining the decision: “Following a thorough review and in light of increased cost pressures on the regulated sector—including the significant tax increases announced in last year’s Autumn Budget—we are closing a number of shops that are no longer sustainable from May. We remain committed to supporting our retail colleagues affected by these closures.”
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Evoke’s CEO, Per Widerstrom, criticized the tax hikes ahead of Christmas, calling them “ill-thought-through, counterproductive, and highly damaging.” He warned that such measures would severely impact businesses, employees, and customers across the betting industry.
However, the government stands firm. Meg Hillier, chair of the Treasury Select Committee, praised Chancellor Rachel Reeves for resisting industry “scaremongering.” Hillier emphasized the importance of protecting vulnerable individuals, stating that while some sectors like racecourses and bingo halls contribute culturally, online slots and remote gaming pose significant risks by quickly depleting users’ finances.
Hillier welcomed the Chancellor’s position and expressed eagerness to discuss these issues further during upcoming parliamentary sessions. The clash highlights the ongoing tension between gambling industry stakeholders and policymakers keen to regulate the sector more strictly for social reasons.