Recently, William Hill announced that it will exit the betting markets of 13 countries from December 2nd, 10 of which are major African markets, marking a strategic contraction of the company. At the same time, due to the potential increase in gambling taxes in the UK, its stores in the UK also face the risk of closure, affecting a wide range.
Market Exit Details
William Hill will exit 13 countries including Angola, Kenya, and Vietnam, with 10 of these being African markets. This exit is not a minor issue; from December 2nd, residents of these countries will no longer be able to place bets. All unsettled bets will be processed normally until that day, and any bets due after will be cancelled and the money returned to the accounts.
Funds Withdrawal Guide
Customers should note that they can log in to their accounts to withdraw money before January 5th. After this date, login information will become invalid, and to withdraw remaining funds, customers will need to contact customer service. This arrangement is considerate, avoiding sudden interruptions.
Underlying Reasons and Impacts
The exit is driven by pressure in the UK retail sector. Evoke Company warns that if the UK government raises taxes in next week's budget, up to 200 stores could close, affecting 1500 jobs. A company spokesperson said they are assessing the tax impact and may have to close stores, which could drive more customers to the black market.
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