Evoke reports revenue decline amid tax concerns and shop closures

Evoke William Hill Bally's Intralot gambling tax retail shop closures

Evoke, the betting and gaming group behind William Hill, 888, and Mr Green, reported a 7% decline in third-quarter revenues to £406 million. On a like-for-like constant currency basis, excluding currency movements and the closure of approximately 270 retail shops over the past year, revenues fell by 2%. The company also noted that customer-friendly sports results at the start of the football season created a 1 to 2 percentage point headwind.

Chief executive Per Widerström warned the UK government against further tax increases in the upcoming Autumn Budget, citing the closure of 270 shops as evidence of the impact on jobs and livelihoods. The company is navigating substantial increases in gaming duties, including a remote gaming duty that rose from 21% to 40% of profits.

Regarding corporate developments, Evoke’s acquisition by Bally’s Intralot S.A. is progressing. Shareholders have passed required resolutions and most regulatory approvals have been received. Completion is anticipated in late 2026 or early 2027.

Entities

Bally's Intralot S.A. · Per Widerström · United Kingdom · William Hill · evoke

Sources

Evoke revenues dip as shop closures and sports results weigh, but Bally's deal on track Evoke, the betting and gaming group behind William Hill, 888 and Mr Green, reported a 7% decline in third-quarter revenues to £406 million, though the drop was far smaller on an underlying basis. Stripping out currency movements and the closure of around 270 retail shops over the past year, revenues fell just 2% on a like-for-like constant currency basis. Unusually customer-friendly sports results at the start of the football season added a further 1 to 2 percentage point headwind, meaning revenues were broadly stable on a normalised basis. Chief executive Per Widerström said the business continued to show resilience, with the group's focus on profitability and cash generation offsetting the impact of substantially higher gaming duties, particularly in the UK. He used the update to warn the government against further tax increases ahead of the Autumn Budget, saying the closure of 270 shops over the past year illustrated the real impact on jobs and livelihoods. On the corporate front, Evoke's recommended acquisition by Bally's Intralot S.A. is progressing as planned. Both sets of shareholders have passed the required resolutions and the majority of regulatory approvals have been received. Completion is expected late in the fourth quarter of 2026 or early in the first quarter of 2027, subject to the satisfaction or waiver of remaining conditions. Evoke, which is incorporated in Gibraltar and listed in London, operates across multiple international markets and has been reshaping its retail estate while investing in its online business. The Bally's Intralot deal, once complete, will mark a significant change of ownership for one of the UK's best-known betting brands. [www.themarketreporter.co.uk]

6 days ago

Evoke urges no further gambling tax hikes in Budget after 270 shops shut [www.standard.co.uk]

6 days ago