William Hill owner evoke has said it could be sold after launching a review, as the gambling giant prepares to be hit hard by Budget changes to gambling taxes.

The company, which also owns 888, said its directors are undertaking a review of strategic options, “including but not limited to a potential sale of the group”.

It added that the sale of some of its assets or business units is also an option.

The company said the potential sale follows an update on the day of the autumn Budget last month, when Labour announced plans to increase gambling taxes.

Evoke has said it expects to mitigate around half of the impact of the tax increases through store closures, potential “changes to the customer proposition”, supplier savings and reduced market.

It has not yet outlined how many sites it is likely to close but indicated prior to the Budget that it could shut up to 200 sites if gambling taxes were raised.