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Evoke PLC on Tuesday said it was considering options for the company’s future, including a possible sale, following a decline in annual revenue. The Gibraltar-registered betting shop operator counts William Hill and 888casino among its brands. Evoke shares fell 4.9% to 26.00 pence on Tuesday morning in London, having slipped 62% over the past year. It described the fourth quarter ended in December as the year’s ‘strongest’, with sales up 7% on-quarter, despite being down 3% on-year, to £464 million. Betting revenue was down 22% on-year, against a ‘strong prior year comparative’, the company stressed. Gaming revenue was up 9%, thanks to ‘growth across all divisions, including 888casino returning to growth in the UK’, Evoke noted. Retail and International revenue rose by 10% and 14% respectively from the level posted in 2024, with the company hailing performance in Italy and Denmark. For the full-year, Evoke sees revenue around £1.79 billion, up 1.8% from £1.75 billion. Adjusted earnings before interest, tax, depreciation and amortisation are forecast ‘in line with market expectations’, ranging from £355 million to £360 million, at a 20% margin. This compares to £312.5 million on-year, at an 18% margin. When Evoke published 2024 results back in March, it had noted ‘a decline in UK retail due to challenging conditions on the high street and the estate falling behind competition, particularly on gaming.’ The company in December said it was conducting a strategic review, with one option on the table being an entire or partial sale of the company. Evoke put the blame on UK tax law changes announced in the government’s November budget. It had estimated that changes to online gaming duties and the roll-out of a new tax for online sports betting would increase its annual duty costs by between £125 million and £135 million, starting April 2027. Evoke estimated taking a £80 million ‘pre-mitigation’ hit in 2026, though it had said cost cutting plans for the medium term could mitigate about 50% of the duties impact. On Tuesday, the company once again pointed to the UK as a source of weakness, noting that it had already shuttered some retail stores. Chief Executive Per Widerstrom commented: ‘We were very disappointed with the outcome of the UK Budget in November that dealt a significant blow to both Evoke and the wider regulated industry.’ The betting CEO criticised tax hikes for large, regulated gambling firms, on the basis that they benefit unregulated competitors. ‘As a result of these significant UK tax increases, the board is assessing its strategic options, with a resolute focus on maximising shareholder value,’ Widerstrom said. Evoke plans to update the market ‘when and if appropriate’, and publish annual results ‘in due course’. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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