Published on: October 29, 2025, 10:36h.
Updated on: October 29, 2025, 10:36h.
- Evoke posts significant revenue growth in Q3
- Upcoming UK tax hikes jeopardize the company’s immediate future
- William Hill may close an additional 200 retail betting locations
Evoke has announced its fifth sequential quarter with year-over-year revenue increases in Q3 2025. The company reported that this financial upturn stemmed from robust performance across its online, international, and retail divisions in both the UK and Ireland.
Evoke, previously known as 888 Holdings before its 2024 rebranding, serves as the parent company to renowned brands such as William Hill, 888 Casino, 888 Sports, 888 Poker, Mr. Green, and Winner. While William Hill represents the conventional High Street betting shops, the other brands primarily operate online.
In its Q3 report, Evoke disclosed a 5% increase in overall revenue compared to the previous year, totaling £435.4 million (US$575.3 million). The UK&I online segment grew by 1%, international revenues surged by 8%, and retail saw a 6% rise.
“During Q3, we pressed forward with our strategy to enhance our competitive edge while fostering a more efficient and profitable entity,” stated Per Widerstrom, CEO of Evoke.
“With retail showing continued improvement from Q2, all sectors experienced growth this quarter. Despite our targeted approach to UK online marketing, which aimed to boost profitability and restrained our immediate revenue growth, we are thrilled to report our fifth straight quarter of profitable development,” Widerstrom emphasized.
Speculations on High Street Developments
UK legislators are anticipated to announce tax increases affecting multiple gambling sectors during the Autumn Budget delivered by Exchequer Chancellor Rachel Reeves on November 26. In light of a substantial fiscal shortfall, estimated between £20 billion to £40 billion, party leaders may resort to raising taxes on gambling.
Reeves is expected to reveal higher taxes on online gambling, sports wagering, and High Street gaming revenue. Earlier this month, Evoke cautioned that such tax hikes could lead to the closure of numerous William Hill outlets, costing the government significant tax income and risking over 1,000 jobs.
The Times reported on October 11 that Evoke informed Labour leaders that increasing taxes on betting shops could force 120 to 200 William Hill establishments to shut down. In the worst case, this could result in about 1,500 job losses.
Evoke, initially 888 Holdings, acquired William Hill in 2022 for £2 billion. This acquisition followed significant regulatory changes in 2019, which slashed the maximum stake on fixed-odds betting terminals (FOBTs) from £100 to £2, critically impacting the High Street betting landscape and leaving William Hill heavily indebted.
Before 2019, William Hill operated approximately 2,300 betting shops. Presently, this number has dwindled to around 1,300, and could further decline if tax increases are implemented.
Evoke’s Cautionary Notes
Despite a strong showing in Q3, Evoke has indicated that impending tax implications may threaten its outlook and strategic decisions.
“As part of our ongoing evaluations, we are examining the potential ramifications of various tax scenarios on our UK operations,” an Evoke representative stated. “This includes the challenging yet necessary contemplation of possible shop closures.”
Evoke’s stock has fallen by 43% in the past three months, decreasing from £72.80 on July 28 to £41.46 as of Wednesday.