William Hill owner Evoke considers sale or breakup after budget tax rises

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Evoke, the FTSE-listed gambling company that owns William Hill and the 888 online casino brand, has said it is considering a sale or breakup of the group, after warning of a £135m hit from tax increases announced in last month’s budget.In a statement to the stock market, the heavily indebted company said it had appointed bankers at Morgan Stanley and Rothschild to explore potential options to secure its future.The decision comes just four years after the business, then known as 888 Holdings, paid £2.2bn to buy William Hill’s network of 1,400 bookmakers, in an unexpected foray into bricks-and-mortar betting.Shareholders have since watched the value of the company plummet by more than 90% to less than £100m as of Wednesday.

The shares rose nearly 9% after news of the potential sale or breakup.Last month, after the chancellor, Rachel Reeves, announced significant increases in the duty levied on online sports betting and casino games, Evoke said it expected to pay extra tax of up to £135m a year.It withdrew its medium-term financial targets at the time and said the decision would “drive customers to the black market, reduce overall tax generation, lead to thousands of job losses, and decrease investment in UK sports”.On Wednesday, the company told investors it had “decided to undertake a review of the company’s strategic options, which will include the consideration of a range of potential alternatives to maximise shareholder value, including, but not limited to a potential sale of the group, or some of the company’s assets and/or business units”.Reeves increased duty on online gaming from 21% to 40%, while duty on online sports betting was increased from 15% to 25%, with an exception for horse racing.

Evoke, founded in the late 1990s by a group of Israeli web tech specialists, said it would be hit hard by tax rises in the budget,But its troubles have not been limited to external pressures,Sign up to Business TodayGet set for the working day – we'll point you to all the business news and analysis you need every morningafter newsletter promotionIn 2023, it removed its chief executive and suspended VIP customer accounts in the Middle East amid an internal investigation into a failure to follow anti-money laundering processes,The company said certain “best practices have not been followed” in relation to “know your client” and anti-money laundering regulations, sending its shares down by more than a quarter on the day,A year earlier, the company agreed to pay a £9.

4m fine, then the third highest in the history of British gambling regulation, over multiple failings that led to customers racking up huge losses during the depths of the Covid pandemic.In 2017, the Gambling Commission penalised 888 with a £7.8m fine, then a record, for “outrageous” failings, after more than 7,000 people who had voluntarily banned themselves from gambling were still able to access their accounts.
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The ultimate unsung superfood: 17 delicious ways with cabbage – from kimchi to pasta to peanut butter noodles

Over the last 50 years, cabbage consumption in Britain has declined 80%. But it’s versatile, full of vitamins, and perfect on a winter night. Here’s how to make the most of itIt’s not good news: despite a lot of messaging about healthy eating, Britons consume 12% less vegetables per week than they did in 1974, when the government’s Family Food survey began. And while the consumption of some specific vegetables – courgettes, say – has risen over the past 50 years, others have experienced a sharp decline. Among the biggest losers is cabbage

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Christmas dinner in a restaurant or kitchen carnage at home?

Christmas dinner? At home or in a restaurant? It’s at this juncture of the year, with Christmas dinner hurtling towards us, that you may well find yourself muttering: “Well, we could always go out!” Who could blame any home cook for wanting to shove this great burden on to someone else’s back, especially since every culinary TV show, magazine article and advertising break since mid-November has hammered home what a colossal faff Christmas dinner actually is. No, it’s not just a slightly posh Sunday roast with a few more guests.Christmas dinner in the UK these days is more like a cross between dinner at Balmoral and 4 July at Mar-a-Lago. The table has to be heaving with holly-embossed crockery, the carrots must be bejewelled in star anise and Himalayan pink pepper, the turkey has to be brined in aromatic salt water and your roasties shaken in polenta and smothered in duck fat. If you’re the designated martyr organising proceedings, field-marshalling everything and cooking this tinsel-strewn palaver, it is common to try instead to divert it all to the local pub, where they’re doing “turkey and all the trimmings” for £79 a head (and including a cracker and a pre-dinner “glass of something sparkly”)

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Christmas mixers: Thomasina Miers’ recipes for fire cider and spiced cocktail syrup

Despite being known for shaking a cocktail on Instagram now and again, very little will induce me to last-minute cocktailery if I am entertaining a serious number of guests. However, a good drinks recipe that you can prep in advance is a lovely thing to dazzle your friends with and to gift over Christmas. With or without alcohol, this pair look good and taste delicious, and should help everyone ease into the December festivities.This makes a delicious base to which you can add soda, juice, tonic or any other mixer for a thirst-quenching and delicious alternative to an alcoholic drink in the evening. Prep 15 minInfuse 1 week+ Makes 500ml bottleFor the fire cider2 jalapeños, finely sliced seeds and all1 large thumb of ginger, peeled and finely sliced2 branches fresh rosemary1 cinnamon stick3 heaped tbsp honey2 garlic cloves, peeled1 thumb turmeric, peeled and finely sliced (optional)350ml apple cider vinegarFor the cranberry fizz (serves 1)30ml fire cider 75ml cranberry juice1 wedge of orange Sparkling water, to topMix all the ingredients for the fire cider in a sterilised 500ml jar, then put in the fridge for at least week, and preferably three to extract the most goodness from the ingredients

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Jamie Oliver to relaunch Italian restaurant chain in UK six years after collapse

Jamie Oliver is to revive his Jamie’s Italian restaurant chain in the UK, more than six years after the celebrity chef’s brand collapsed.Jamie’s Italian is poised to be relaunched in the spring, starting with a restaurant in London’s Leicester Square.Oliver’s return to the UK restaurant scene is being backed by Brava Hospitality Group – the private equity-backed group that runs the Prezzo chain – which intends to relaunch the brand across the UK.“As a chef, having the chance to return to the high street is incredibly important to me,” he said. “I will drive the menus, make sure the sourcing is right, the staff training, and ensure the look and feel of the restaurant is brought to life in the right way

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Maximum protein, minimal carbs: why gym bros are flocking to Australia’s charcoal chicken shops

From El Jannah’s webpage dedicated to ‘health-conscious individuals’ to Habibi Chicken’s ‘Gym Bro’ pack, businesses are catering to the post-leg day crowdGet our weekend culture and lifestyle emailPopularised in Australia by Balkan and Lebanese immigrants, charcoal chicken has long been part of our comfort-food canon. But recently, the humble chicken shop has had a renaissance – driven by fresh takes on the classics, the expansion of longstanding chains and a surge of protein-conscious gym goers.In June, charcoal chicken chain El Jannah, which has more than 50 stores, launched a page on its website dedicated to protein and macros – complete with recommendations for the best post-leg day order – a clear nod to the fitness crowd.In Wagga Wagga, Habibi Chicken has a “Gym Bro” pack – a half or quarter chicken, tabbouleh, pita and toum, no chips. Co-owner Mariam Rehman says it’s a top seller, designed to maximise protein and reduce carbs

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Helen Goh’s recipe for edible Christmas baubles | The sweet spot

These edible baubles make a joyful addition to the Christmas table or tree. Soft, chewy, marshmallow-coated Rice Krispies are studded with pistachios and cranberries, chocolate and ginger, or peppermint candy cane; they’re as fun to make as they are to eat, and they make a perfect little gift. To add a ribbon for hanging, cut small lengths of ribbon, then loop and knot the ends. Push the knotted end gently into the top of each ball while it’s still pliable, then reshape around it, so it holds the knot securely as it sets. Alternatively, wrap each bauble in cellophane, then gather at the top and tie with a ribbon, leaving a long loop for hanging