Evoke Q3 Revenue Falls 7% to £406 Million After Betting Shop Closures

Evoke reported revenue of £406 million for the third quarter of 2026, down 7% year on year, as a smaller retail estate and player-friendly sports results affected performance.

The owner of William Hill, 888 and Mr Green published its unaudited update on October 23, covering the three months ended September 30. On a like-for-like, constant-currency basis, excluding approximately 270 fewer betting shops than a year earlier, revenue declined 2%. 

Football Results Added to Revenue Pressure

Evoke estimated that customer-friendly results at the beginning of the football season reduced year-on-year group revenue growth by approximately one to two percentage points.

After adjusting for shop closures, currency movements and expected sports margins, the company described revenue as broadly stable. This normalised comparison removes the effect of unusually favourable results for either players or the operator.

The quarterly update did not disclose divisional revenue, EBITDA or net profit, limiting the available comparison of profitability.

Higher Duties Drive Retail Restructuring

Chief executive Per Widerström linked the closure of 270 shops over the past year to higher industry taxation. He urged the UK government to consider the consequences for employment before introducing further increases, while reiterating Evoke’s focus on profitability and cash generation. 

The restructuring follows a first half in which group revenue was broadly unchanged at £887.5 million, while adjusted EBITDA fell approximately 10% to £150.2 million.

In those interim results, Evoke reported a £46 million year-on-year increase in gaming duties, predominantly in the UK. It said marketing efficiencies, changes to promotions and operating savings offset more than half of that additional burden. Approximately 200 retail shops closed in May as the group concentrated investment on its remaining locations. 

Bally’s Intralot Acquisition Remains on Schedule

Evoke said shareholders of both companies had passed the necessary resolutions for its acquisition by Bally’s Intralot, with most required regulatory approvals also received.

Completion remains subject to outstanding conditions being satisfied or waived. The companies expect the transaction to close late in the fourth quarter of 2026 or early in the first quarter of 2027. 

Announced in June, the recommended share offer valued Evoke’s equity at approximately £243.1 million. Under its terms, shareholders would receive 0.537 new Bally’s Intralot shares for each Evoke share, equivalent to 52 pence at the reference share price used when the deal was announced.