Evoke suffers on potential gambling taxes

Posted by author October 14, 2024 Gambling

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(Alliance News) – The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.

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SMALL-CAP – WINNERS

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Life Science REIT PLC, up 2.8% at 40.60 pence, 12-month range 31.30p-71.80p. The real estate investment trust, which is focused on UK life sciences properties, says it has completed a new lease with Infleqtion, otherwise known as ColdQuanta UK Ltd, for 7,500 square feet of fully fitted space at the Oxford Technology Park. Infleqtion is the third quantum technology business to take space at OTP. This is the third letting at the IQ and the first letting of fully fitted space at OTP.

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SMALL-CAP – LOSERS

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Evoke PLC, down 11% at 57.80p, 12-month range 49.18p-297.60p. Evoke is a Gibraltar-based betting and gaming operator, formerly known as 888 Holdings and owner of William Hill, 888, and Mr Green brands. Shares in the firm tumbled following a Guardian report, which said that Treasury officials are weighing up proposals to double some of the taxes levied on online casinos and bookmakers. Measures could be included in this month’s budget, the report said. According to the Guardian’s sources, the Treasury hasn’t yet made a decision, but seems “receptive” to tweaking the UK’s regime of betting and gaming duties to raise extra funds of between GBP900 million and GBP3 billion, despite opposition from industry lobbyists. “It’s definitely on the map,” said a source familiar with Treasury thinking. “There’s no obvious pushback to it.”

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By Holly Beveridge, Alliance News senior reporter

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