Evoke CFO Sean Wilkins has described the gaming industry as an “easy target”, as speculation over UK tax hikes on online casino and sports betting continue to linger.
Concerns that Chancellor Rachel Reeves will approve a tax rise in her Autumn budget have sparked a significant fall in share price for some of the UK’s biggest operators.
The topic has also sparked contributions from think tanks such as the Institute for Public Policy Research (IPPR), which has suggested hiking remote gaming duty from 21% to 50% for online casinos, as well as raising machine games duty from 20% to 50%.
The proposal was backed by former prime minister Gordon Brown, who suggested that the proceeds generated by a rise in gambling tax go towards reducing child poverty.
However, evoke CFO Wilkins has stressed the need for “balance” from the decision makers in government, insisting that protecting the UK’s gaming industry should also be a priority.
Speaking on evoke’s H1 2025 earnings call, Wilkins explained: “The way we see it in the business is that the chancellor and the government does need some cash and I think the gaming industry is an easy target. We are in a kind of wait-and-see pattern there.
“The caveat I would put to that is increased tax beyond a certain point, it’s very clear that it leads to black market growth, and black market growth leads to lower tax take and I was going to say less player protection, but zero player protection actually, and so it is completely against the objectives of the government.”
Wilkins insisted that the correlation between a drastic tax rise and an increase in black market activity has been seen in other markets elsewhere in Europe.
“This is not speculation, this is evidenced in the Netherlands,” he noted. “When we look at this, our expectation is to see a balanced approach from the Treasury.
“A balanced approach to get more cash in, but also to protect an industry that the UK should be proud of, and to continue to see decent performances so that the tax take increases rather than decreases.”
Rumours of a rise in remote gaming duty led to the likes of evoke, Flutter Entertainment, Entain and Rank Group all experiencing slides in share value on Friday, 8 August.
Evoke’s shares slid 7% in light of the speculation to 67p and have struggled to rally since.
Wilkins’ comments came in the aftermath of the William Hill and 888 parent company’s H1 earnings call, which detailed group-wide revenue of £888m, a 3% year-on-year (YoY) rise.
Adjusted EBITDA surged 44% YoY to £166m, while reported EBITDA saw the steepest climb of all, more than trebling H1 2024’s total at £141m.
Per CEO Widerström reflected on the quarter, explaining: “The improved financial performance is a result of substantial strategic progress, focusing resources on our core markets and executing a short-term turnaround, while investing in building stronger capabilities to support long-term sustainable and profitable growth.
“Having delivered four consecutive quarters of growth, we are well positioned to drive continued progress, supported by our leading market positions, established brands, outstanding products and a clear customer proposition.”
The post Evoke CFO points to Netherlands as reason to be cautious about UK tax hike first appeared on EGR Intel.
Sean Wilkins insists government must recognise gaming industry as something “to be proud of” amid fears tax raise could spark rise in black market activity
The post Evoke CFO points to Netherlands as reason to be cautious about UK tax hike first appeared on EGR Intel.