Evoke, the parent company of William Hill, has reported modest sales growth for the Q1 2025, with international gains helping to counter domestic headwinds. The update follows Evoke’s full-year 2024 results published in March, where the group outlined a new strategy to drive sustainable growth after a challenging year.
The London-listed gambling group saw revenue increase by 2 percent at constant currency to £437 million (€511 million) for the three months to 31 March. Strong results in key overseas markets, including Italy, Spain, and Romania, helped to balance a more difficult performance at home.
Strong international growth drives Evoke forward
Evoke’s international business proved a lifeline, with revenues climbing 11 percent year-on-year. Supporting this surge is Romania’s standout success following the acquisition of Winner.ro for €10 million (£8.5 million) in August 2024. CEO Per Widerström praised the “particularly strong growth across our international core markets,” positioning them as a key driver of the group’s momentum.
While overall group turnover edged up, the UK and Ireland operations faced pressure from regulatory changes. New, safer gambling rules, including stricter age and identity checks and mandatory vulnerability assessments for high-spending players, have squeezed online sports betting revenues. SiGMA News recently examined how weakening trust in British gambling regulation is quietly fuelling a black market surge, threatening the industry’s long-term stability.
Home market struggles as safer gambling measures bite
Evoke’s UK and Irish online revenue dipped by 1 percent, with sports betting taking the biggest hit. Although online gaming revenue grew by 3 percent, a 21 percent drop in active players reflected a sharp pullback in promotional activity compared to the previous year.
The retail side of the business, which includes over 1,400 William Hill betting shops, also recorded a 6 percent fall in revenues, largely because of lower stakes and a reduced win margin. However, gaming machine revenue offered a bright spot, rising by 6 percent sequentially.
Despite domestic difficulties, Widerström remained upbeat about future prospects, noting, “We have moved swiftly to improve some of the underlying drivers of performance and have been seeing stronger trends in April.”
Evoke focuses on efficiency and innovation to fuel recovery
Evoke’s move to reposition itself after its rebrand from 888 Holdings last year is already showing results, implying this strategy is beginning to deliver.
A renewed focus on core markets, investment in artificial intelligence, and operational cost savings of up to £20 million (€23.4 million) annually are helping to underpin the group’s recovery efforts.
Adjusted EBITDA for the group showed a healthy year-on-year increase, supporting Evoke’s ambition to . The company reiterated its mid-term target of achieving annual revenue growth between 5 percent and 9 percent, with year-to-date growth of 4 percent as of 22 April.
While Evoke faces tough competition from larger rivals such as Flutter Entertainment and Entain, the group’s clear strategic focus and early improvements offer a more hopeful outlook for the rest of 2025.
As Widerström put it, “We remain highly confident in our market position and the growth profile of the business.” Evoke has bought itself time with distant victories, but shadows linger at home. The next chapter will test whether strategy alone can outpace tougher domestic storms looming on the horizon.
