Evoke Faces Difficult Times After Third Quarter Results

Evoke, owner of brands such as William Hill, 888 and Mr Green, has released its third quarter financial results. The company's revenue fell 7 percent compared with the same period last year. Management attributed the decline to the unstable regulatory environment in the UK.

The company has begun closing some of its shops in the UK. William Hill closed 270 betting shops due to financial difficulties. General Manager Per Widerström cited recent tax increases in the country as the main reason for this decision. The closures could affect about 10 percent of the 1,300 shops and put more than 1,500 jobs at risk.

Evoke's position in other regions is also weak. Last year William Hill withdrew from parts of Africa and South Asia. Even so, Widerström said the business is resilient and is working toward sustainable profitability in its core markets.

The company's shares are currently trading at 42.85 pence. This price represents a steep fall from 382.8 pence in 2021. The acquisition of Bally's Intralot is expected to be completed between the last quarter of 2026 and the first quarter of 2027. Analysts believe the deal could ease the debt burden, but it is not yet clear what Bally's Intralot will do with the shops.