Adam Roarty Editor
Adam Roarty is a journalist covering sports betting, regulation, and industry innovation for CasinoBeats. His coverage includes tax increases in the UK, covering breaking stories in the ever-evolving landscape of US betting such as the...
Read Full BioGaming company Evoke reported its strongest quarter of the year, primarily driven by growth in its online casino brands. Overall revenue, however, was down last year, and the company is continuing its strategic review, which could lead to the sale of flagship brands.
The company announced its revenue for the final quarter of the year was £464 million ($634 million). This was 7% higher than Q3 last year but 3% lower than Q4 in 2024. The drop was primarily due to a 22% decline in sports betting revenue, attributed to favorable sporting results in 2024.
Online casinos compensated for the drop in betting profits, with igaming increasing revenue by 9% in 2024. 888casino returned to growth, while the company’s international segment performed well, reporting a 14% increase in revenue. Denmark and Italy both contributed record quarterly revenues.
CEO Per Widerström stated, “During Q4 we made good progress against our strategic plans, delivering our best quarter of the year and demonstrating the underlying momentum in the business. Our focus on core markets continued to drive our profitable growth, with Italy and Denmark both delivering record quarterly revenues in Q4. This positive momentum has continued into 2026 with a strong start to the year with good growth across all divisions.”
Online Casino Taxes Remain Concern
Widerström again expressed his frustration with the UK budget, which included an increase in taxes on online casinos from 21% to 40%.
He stated, “While the strong strategic and financial progress we made throughout 2025 was encouraging, 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.
“We continue to believe these tax increases will negatively impact the industry’s economic contribution, customer protection, and will ultimately serve to support further growth in the illegal black market.”
Will Strategic Review Break Up Company?
The new rate will come into force in April, and in response, Evoke announced it is conducting a strategic review of operations, which could lead to the sale of flagship brands such as William Hill or 888.
The company informed shareholders last month that the review could lead to “a potential sale of the Group, or some of the Company’s assets and/or business units.”
William Hill has already announced the closure of around 200 betting shops in the UK. Retail revenue, however, increased by 10% this quarter. Retail betting has also been exempted from increased taxes.
Widerström added, “We have moved quickly and decisively to execute on our mitigation plans including the closure of retail stores that are no longer sustainable as well as broader cost savings, and we will update shareholders on our progress and updated strategic plan in due course.”
Evoke expects full‑year revenues to be around £1.79 billion ($2.45 billion), up 2% on the prior year. Adjusted earnings were forecast to be between £355 million and £360 million (around $490 million), representing growth of roughly 14–15% and an EBITDA margin of about 20%.
