Achieves Strong Q2 Performance, Remains Committed to FY25 Goals According to Evoke's Announcement
Evoke, the parent company of renowned brands such as William Hill, 888, and Mr Green, has reported a 5% increase in Q2 revenue compared to the same period last year. This uptick follows a series of strategic moves aimed at transforming the company and enhancing its position in the competitive gambling market.
The company's retail operations have bounced back significantly, with the full rollout of 5,000 new gaming terminals across Evoke's brands contributing to this success. As a result, Evoke's EBITDA on a trailing 12-month basis now surpasses £360 million ($487 million).
Evoke's CEO, Per Widerström, expressed optimism about the company's trajectory, stating that the company would strive to maintain this momentum and deliver lasting success. The company is making continued investments in promising jurisdictions such as Romania, reflecting its commitment to international growth.
Online operations saw a 6% growth, driven by strong performance in core international markets. This growth is a testament to Evoke's focus on quality-driven growth, as it refines customer segmentation and lifecycle management, resulting in a 6% year-on-year increase in average revenue per user (ARPU).
Evoke finalized the rebranding of its business earlier this year, marking a significant step in its transformation. The company's strategic transformation plan for 2025 centres on cost optimization, international digital business growth, innovation in marketing and product delivery, and operational restructuring.
Key elements of Evoke’s strategic transformation include a rigorous cost optimization program, international expansion, innovation in marketing and product delivery, and a focus on regulated markets. These initiatives have helped boost adjusted EBITDA by 71% in the second half of 2024, driving an EBITDA margin increase from 17.8% (full year) to 22.1% in the last six months.
Although UK and Ireland online sports betting faced pressure from stricter regulatory controls, Evoke reported a 5% revenue increase in Q2 2025 and a 43% increase in adjusted EBITDA for the first half of the year, supported by strong international online performance and a retail rebound featuring new gaming machines.
Evoke anticipates revenue growth of between 5% and 9% and an Adjusted EBITDA margin of roughly 20% for FY25. The company is also strengthening its competitive advantages and better aligning its leading brands and products to a clearer customer value proposition.
In a bid to streamline decision-making and explore innovative ways to enhance efficiency, a new Technology Committee was formed at the board level in May. The committee will oversee high-profile digital investments and ensure innovation initiatives align with the Group's business objectives.
Despite ongoing macroeconomic uncertainties and heightened regulatory scrutiny, Evoke remains confident in its full-year guidance. The company's disciplined strategy and focus on operational excellence are delivering improved profitability and further deleveraging.
Adjusted EBITDA for the period is expected to settle between GBP 163 million and GBP 167 million ($220 million and $226 million), a 43% increase at the mid-range. Evoke will post its detailed interim results on August 13, 2025.
- Evoke has announced plans to innovate in their technology sector, forming a new Technology Committee to oversee digital investments and ensure initiatives align with business objectives, such as investing in cutting-edge casino technology.
- As part of Evoke's strategic transformation plan for 2025, they are focusing on cost optimization, international digital business growth, and innovation in marketing and product delivery, potentially incorporating advanced technology in their casinos to enhance the customer experience.
