Evoke Reports Strong Q2 Performance While Affirming FY25 Goals
Evoke Posts Solid Second Quarter Gains
Evoke, known as the parent company of major gaming brands such as William Hill, 888, and Mr Green, has announced impressive growth in its revenue and profits for the second quarter. This upturn was mainly fueled by strong performance in its international digital sector and a notable recovery in retail operations. CEO Per Widerström emphasized the company’s commitment to sustaining this positive momentum and achieving long-term success.
Significant Improvements Across Key Metrics
In its recent half-year update ending June 30, 2025, Evoke revealed that Q2 revenue rose by roughly 5% compared to the previous year. The online division was a key driver, showing a 6% increase, supported by robust results in major international markets. Additionally, the retail segment rebounded from challenges in the first quarter, boosted by the full deployment of 5,000 new gaming terminals across its various brands.
Although the sports betting division faced difficulties due to a challenging comparison with last year’s UEFA European Championship, the overall second-quarter results marked Evoke’s second-strongest performance since early 2023. CEO Widerström highlighted that these outcomes reflect the resilience of their core markets and ongoing strategic transformation efforts.
“Our disciplined strategy focusing on core markets and operational excellence is yielding better profitability and allowing us to reduce debt,” stated Widerström.
For the first half of the year, overall revenue grew by about 3%, driven by double-digit gains in gaming. Adjusted EBITDA is projected to fall between GBP 163 million and GBP 167 million (approximately $220 million to $226 million), representing a 43% increase at the midpoint, thanks to tighter cost management and improved marketing efficiency. Over the past 12 months, EBITDA has exceeded £360 million ($487 million).
Focus on Innovation and Strategic Restructuring
These positive financial results come on the back of major strategic changes within Evoke. The company completed a rebranding effort earlier this year alongside major shifts in its overall business strategy. Noteworthy moves included selling off its US-facing digital assets while increasing investments in promising markets like Romania.
In May, Evoke introduced a new Technology Committee at the board level tasked with overseeing significant digital investments. This committee is expected to guide innovation projects, align them with corporate goals, enhance decision-making efficiency, and explore new ways to improve operational effectiveness.
“We are continuously evolving the Group’s capabilities for medium- and long-term growth, enhancing competitive strengths, and aligning our leading brands and products with a clearer value proposition for customers,” said CEO Per Widerström.
Despite macroeconomic challenges and stricter regulatory environments in various regions, Evoke remains optimistic about its full-year outlook. The board expects revenue to increase between 5% and 9% in FY25, with an Adjusted EBITDA margin near 20%. Detailed interim results are scheduled for release on August 13, 2025.