High street betting giant William Hill has announced the closure of 200 betting shops across Britain, placing up to 1,500 employees at risk of redundancy.
The bookmaker’s parent company, Evoke, attributed the decision to increased cost pressures, including tax changes introduced in Labour’s Autumn Budget last October.
Staff were informed of the decision today, with closures expected to begin from May.
The affected sites represent around 15 per cent of William Hill’s 1,300 retail locations nationwide.
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Chancellor Rachel Reeves announced fiscal measures in the Autumn Budget that impact the gambling sector.
Online gaming duties are set to rise from 21 per cent to 40 per cent.
Meanwhile, online sports betting levies will also increase from 15 per cent to 25 per cent under the plans.
The closures represent a reduction in high street betting outlets as the sector responds to rising costs and regulatory changes.
William Hill are set to close in weeks
|GETTY
Evoke issued a statement outlining the reasons behind the decision, The Sun has reported.
A spokesman said: "Following a thorough review and further to increased cost pressures on the regulated sector including significant tax increases announced by the Government in last year's Autumn Budget, from May we are closing a number of shops that are no longer sustainable."
The company said it would support employees affected by the closures.
A spokesman added: "We are offering our full support to our retail colleagues who are affected by these closures."
Gambling group owning William Hill and 888 has cited cost struggles since the tax hikes were introduced
| GETTYEvoke said the decision was taken in response to economic conditions.
"These decisions are never taken lightly, however in the face of rising cost pressures we must take action to ensure we can continue to invest in our core retail estate, with the right shops, in the right locations," the company said.
Per Widerström, chief executive of Evoke, previously commented on the policy changes following their announcement in October.
"These proposals are ill-thought-through, counterproductive, and highly damaging. It is clear these changes will significantly harm businesses, employees, and customers."
The gambling industry has raised concerns about the cumulative impact of taxation and regulation.
Operators have also highlighted proposals for mandatory financial checks on customers as additional pressure mounts on the sector.
Industry representatives have warned that such measures could lead some customers to seek unregulated alternatives.
The William Hill closures follow broader challenges facing the regulated gambling sector as companies respond to changing market and regulatory conditions.