Business Strategy Sky News Reports Evoke Considering Italian Business Sale Amid UK Tax Concerns Marta SanderNovember 25, 2025021 views According to Sky News, Evoke has engaged investment bank Morgan Stanley to assess strategic options for its market-leading Italian online gaming business. The report indicates this move serves as a contingency plan should Chancellor Rachel Reeves implement substantial gambling tax increases in this week's budget announcement. According to Sky News, Evoke has engaged investment bank Morgan Stanley to assess strategic options for its market-leading Italian online gaming business. The report indicates this move serves as a contingency plan should Chancellor Rachel Reeves implement substantial gambling tax increases in this week’s budget announcement. Industry sources told Sky News that the sale plans would only be activated if the gaming sector faces significant tax hikes, with speculation suggesting the government could seek to generate between £1 billion and £3 billion in additional revenue from gambling taxes. Broader Industry Impact The report highlights that Evoke joins competitors including Betfred, Flutter Entertainment, and Entain in preparing contingency plans for potential tax increases. All major operators have warned that substantial tax hikes would result in UK betting shop closures. Evoke employs over 7,600 people in the UK, with nearly 6,500 in retail operations. The company paid close to £330 million in taxes last year, representing over 60% of its UK profits. A recent EY report for the Betting and Gaming Council warned that proposed tax increases could put more than 40,000 jobs at risk and channel £8.4 billion in stakes to unregulated markets. An Evoke spokesperson declined to comment on the reported contingency plans. Source: Sky News