(AsiaGameHub) – William Hill is set to close approximately 200 of its physical betting shops by May 24th of this year, potentially impacting up to 1,500 jobs.
This reduction accounts for about 14% of William Hill’s total retail presence and signifies the company’s response to intensified financial pressures, which have led to higher operating expenses within the UK market.
The parent company, Evoke, stated that this decision was made after a strategic assessment, citing increased taxes and operational costs as the primary drivers. Evoke also indicated that support would be provided to affected employees, emphasizing the necessity of concentrating on viable locations.
Evoke, the parent company, provided the following explanation:
Following a comprehensive review and in light of increased cost pressures on the regulated sector, including substantial tax hikes announced by the Government in last year’s Autumn Budget, we will be closing a number of shops that are no longer financially viable from May. We are committed to offering our full support to our retail colleagues affected by these closures. While these decisions are never made lightly, we must act in response to rising cost pressures to ensure we can continue to invest in our core retail operations, with the right shops in the most suitable locations.
In addition to these store closures, new UK tax legislation, effective April 1st, will raise the Remote Gaming Duty from 21% to 40%, with further increases to betting duties planned for the following year.
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