evoke plc, parent company of William Hill, 888 and Mr Green has cemented its turnaround with a fifth consecutive quarter of year-on-year revenue growth, highlighted in its Trading Update for the three months ended 30 September 2025.
Group revenue for the period reached £435 million (US$575.87m), up five percent on Q3 2024. All three operating divisions–UK & Ireland Online, International, and Retail–recorded revenue increases during the quarter.
UK & Ireland Online revenue grew one percent, with an eight percent rise in sports betting offset by a two percent decline in gaming.
The Group said performance at 888 remained a short-term drag on growth as marketing spend was reduced to target higher returns, though contribution grew at a double-digit rate across both core brands.
International operations rose eight percent, led by strong double-digit growth in Italy, Denmark and Romania, partly offset by a slowdown in Spain and weaker results from non-core markets.
Growth
Retail revenue increased six percent, supported by improved win margins in sports and continuing growth in gaming, following the rollout of new gaming cabinets earlier this year.
The Group highlighted ongoing cost control and improved marketing efficiency, noting contribution is growing faster than revenue.
During the quarter, evoke successfully refinanced its 2027 EUR fixed-rate notes, issuing new eight percent EUR notes due 2031, which is expected to reduce annual cash interest costs by around £5 million (US$6.61m).
Operationally, the Group reported a 19 percent revenue uplift in Denmark following the migration to its in-house platform, continued market-share gains for 888 casino in Italy, and completion of the 888 Romania migration to the local Winner.ro platform.
The UK gaming giant reiterated its Full Year 2025 guidance, forecasting an adjusted EBITDA margin of at least 20 percent, and confirmed confidence in delivering adjusted EBITDA ahead of current market expectations.
Turnaround
Commented evoke CEO Per Widerström: “During Q3 we continued to execute against our strategy which is transforming our long-term competitive capabilities and building a more efficient and profitable business.
“With Retail continuing the improving trend from Q2, all three divisions were in growth during the quarter. Whilst our refined approach to UK Online marketing to drive improved profitability slightly held back our top-line performance, we are pleased to have recorded our fifth consecutive quarter of profitable growth.
“We have clear plans in place to support an improvement in revenue during Q4 through continued acceleration in product enhancements, including retail sports and our recently launched new William Hill Vegas app.
“We are also making ongoing improvements to our customer lifecycle management capabilities. Alongside this, the improvements we have made to the operating model and efficiencies in our cost base mean we remain confident of achieving our implied Adjusted EBITDA guidance, which would outperform market expectations.
“We continue to execute our turnaround with vigour and are making good progress against our plans to position evoke for long-term success and significant value creation.”
