Evoke, the debt-laden gaming group that owns William Hill in the UK and the 888 brand, has put itself up for sale as it struggles with rising costs and regulatory pressure.
The company said it is reviewing its strategic options, which include the possibility of a business sale. Investment banks Morgan Stanley and Rothschild have been appointed joint financial advisors to oversee the process. However, Evoke cautioned that there is no certainty whether a transaction will occur or what form it will take.
The move comes just weeks after Evoke said it would close about one in 10 of its betting shops next year to stabilize its finances. The group struggled to reverse the decline in performance while carrying a significant debt burden.
Pressure on the company has increased after changes were announced in the latest budget that sharply increased taxes on online gambling. From April 2026, the rate of remote gaming tax will rise from 21 percent to 40 percent, while the tax on online sports betting will rise from 15 percent to 25 percent.
In response, Evoke has already withdrawn its medium-term financial targets and warned that the new tax regime, once fully implemented, will increase its annual tax bill by between £125m and £135m. A profit of £80 million is expected in the next financial year alone.
The group said the impact of the tax increases, coupled with ongoing operational challenges, had prompted the board to reassess the company’s future direction.
Any sale would be a significant moment for the UK gambling sector, with William Hill remaining one of the best-known names on the high street despite years of consolidation and regulatory tightening across the industry.
