William Hill Owner May Sell Italian Business Amid UK Tax Hike Fears

^{Pictured: Per Widerström, CEO of Evoke Plc}

UK gambling group Evoke, the owner of the William Hill brand, has hired investment bank Morgan Stanley to assess a potential sale of its Italian business. According to Sky News, the move is being considered as a contingency plan in case the upcoming UK budget introduces substantial tax increases for the gambling sector.

A sale of the Italian division could bring the company hundreds of millions of dollars. The introduction of tougher tax measures — expected to raise up to $4 billion for the Treasury — would be the trigger for activating the plan.

Amid these expectations, Evoke, along with Betfred, Flutter and Entain, is already preparing scenarios involving cuts or even full closures of their UK retail betting shops.

Italy is one of Evoke’s four key international markets alongside Spain, Denmark and Romania. In Italy, the company operates under the 888casino brand, which, according to the group, continues to strengthen its position and grow its share in the online casino segment.

Evoke representatives have previously warned that higher taxes in the UK will inevitably push players toward unlicensed operators. The country’s Betting and Gaming Council has also cautioned that tax hikes could result in more than 40,000 job losses across the industry.

Amid tax uncertainty, Sky Bet — one of the UK’s biggest online bookmakers and part of Flutter Entertainment — has moved its headquarters to Malta.

Gambling Park earlier reported that Evoke’s William Hill brand will exit 13 international markets in December.