- Evoke reported sector-wide revenue increases in the third quarter
- UK gambling tax hikes threaten the company’s near-term outlook
- William Hill could shutter 200 more high street betting shops
Evoke reported its fifth consecutive quarter of year-over-year revenue growth in Q3 2025. The company relayed on Tuesday that the financials were driven by strong results across its three sectors, UK and Ireland online, international, and retail.
Evoke, formerly 888 Holdings until its 2024 rebranding, is the parent company of William Hill, 888 Casino, 888 Sports, 888 Poker, Mr. Green, and Winner. William Hill is the company’s high street betting shop brand and bookmaker, while its 888, Mr. Green, and Winner identities primarily live online.
The company’s Q3 filing showed that group revenue jumped 5% from the prior year to £435.4 million (US$575.3 million). Revenue for Evoke’s UK&I online operations was up 1%, international ballooned 8%, and retail climbed 6%.
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,” said Per Widerstrom, Evoke CEO.
“With retail continuing the improving trend from Q2, all three divisions were in growth during the quarter. While 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,” Widerstrom added.
High Street Speculation
Lawmakers in the UK are expected to hike tax rates across most gambling sectors when Exchequer Chancellor Rachel Reeves unveils the government’s Autumn Budget on November 26. Facing a so-called “black hole,” with Labour leaders needing to fill an estimated £20 billion to £40 billion deficit, party leaders are expected to turn to gambling.
Reeves is likely to announce tax increases on online gambling, sports betting, and high street gaming revenue. Earlier this month, Evoke warned the government that such tax surges would result in the closure of hundreds of William Hill businesses, costing the government considerable tax revenue and the loss of more than 1,000 jobs.
The Times reported on October 11 that Evoke told Labour leaders that a tax increase on betting shops would lead to 120 to 200 William Hill betting shops shuttering. At the higher level, about 1,500 jobs would be lost.
Evoke, then 888 Holdings, bought William Hill in 2022 for £2 billion. The acquisition came three years after the UK slashed the maximum bet on slot-like fixed-odds betting terminals (FOBTs) from £100 to £2. The regulatory change, designed to limit gambling harms, devastated the high street bookmaking business and led to William Hill becoming riddled with debt.
Before 2019, William Hill had approximately 2,300 betting shops. Today, it has about 1,300. Those numbers could dwindle further should tax increases come.
Evoke’s Warning
While the third quarter was strong for Evoke, the company acknowledged that tax implications threaten its outlook and future decision-making.
As part of our ongoing planning, we are assessing the potential impact of different overall tax scenarios on our UK operations,” an Evoke spokesperson said. “This includes the difficult but necessary consideration for shop closures.”
Evoke shares are down 43% over the past three months, from £72.80 on July 28 to £41.46 on Wednesday.
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