Evoke Concludes 2025 Strongly; CEO Confirms William Hill Shop Closures
In a robust conclusion to its fiscal year, Evoke—parent company of prominent betting brands including William Hill and 888—reported its fourth-quarter earnings for 2025. Despite a commendable overall performance, the company faced a significant decline in betting revenue.
Evoke’s Q4 Performance and Revenue Insights
For the quarter ending December 31, Evoke posted group revenue of £464 million. This represents a 7% increase compared to the previous quarter. However, betting revenue dropped by 22% year-on-year, primarily due to favorable outcomes for operators in the same period in 2024.
Overall Business Growth
Looking at 2025 as a whole, Evoke anticipates total revenues of approximately £1.786 billion, reflecting a year-on-year increase of around 2%. This growth is driven by robust performances in core markets, particularly Denmark and Italy, where both regions achieved record quarterly revenues in Q4.
Strategic Responses to Budget Impact
- CEO Per Widerstrom expressed disappointment regarding the UK budget, specifically the tax increases that adversely affected Evoke’s operations.
- The company has initiated measures to address the impact of these tax changes, including retail shop closures.
- Widerstrom emphasized the importance of maximizing shareholder value amid these challenges.
The tight fiscal environment has led the board to assess strategic options, which may include selling all or parts of the business. In response to increasing external pressures, Evoke launched a strategic review in collaboration with Morgan Stanley to explore these options.
Market Reactions and Future Outlook
Following the release of these figures, Evoke’s stock experienced a decline of 2.7% on the London Stock Exchange. Analysts noted that while Q4 revenue was promising, the 22% downturn in betting revenue was below market expectations.
Analyst David Brohan of Goodbody remarked on the mixed results, stating that the sports margin’s impact was more significant than anticipated, which weighed on overall revenue growth.
As Evoke progresses into 2026, the company remains committed to navigating the challenges posed by increased taxation and exploring strategic pathways for sustainability and growth within the highly competitive betting industry.
