Evoke – FairOdds Network

February 18, 2025

Is the UK online market a growth source or are operators pulling back?

The long-established UK market is going through some seismic regulatory changes. Operators have had to grapple with new measures and impending reforms instituted by the Gambling Commission, raising the question is the UK still a source of growth or are operators pulling back?

The latest data from the Gambling Commission shows that the UK online market is experiencing growth in terms of player activity as gross gambling yield (GGY) from October to December 2024 was up 21% year-on-year to £1.54 billion.

Both online monthly active accounts and total bet and/or spins rose during that period. Total bets and/or spins hit a record of 25.9 billion during the quarter, up 8% year-on-year, while accounts grew by 3%.

Online slots GGY was up 15% to £709 million in the same period, while spins were up 9% to 23.9 billion. Average monthly active accounts were up by 10% to 4.4 million.

Despite this growth, the UK has faced a tough period of gambling reforms relating to the previous government’s Gam..

January 7, 2025

What will it take to return UK retail betting to growth?

UK retail betting is in decline. Can the sector take inspiration from a high street betting stalwart and Serbia’s thriving social scene to turn the channel’s luck around?

UK retail betting continued its slow long-term decline in Q3 2024 with the channel’s gross gambling yield (GGY) falling 1% to £533 million in the UK, according to UK Gambling Commission data. Entain reported a drop of 2% in retail betting revenue in the market, while Evoke observed a 9% fall in revenue across its international retail portfolio.

Meanwhile online gambling is surging in popularity due to ease of access and improving technology. The Gambling Commission reported an overall Q3 GGY of £1.32 billion (€1.6 billion/$1.7 billion), with online real event betting GGY rising by 6% year-on-year to £453 million.

In its Q3 results, Evoke said it had hired a new retail managing director in September who had identified and actioned a series of measures to improve trading in the short term. This included the rollout ..

August 20, 2024

Revamped product and customer personalisation key to Evoke growth plans

Evoke plc is banking on automation and AI as it embarks on a “total transformation” of the business, says chief executive Per Widerström following disappointing first half results.
Following a profit warning in July, Evoke reported a 2% decline revenue to £862m last week, with adjusted EBITDA falling 26% year-on-year.

“We understand exactly what went wrong and we have taken corrective actions to address the problems,” Per Widerström says of evoke’s h1 results
Widerström did not shy away from acknowledging the operator’s underperformance on Evoke’s H1 earnings call. “[These] results are disappointing and are not acceptable. We understand exactly what went wrong and we have taken corrective actions to address the problems.”

He outlined a range of product improvements, changes to customer lifecycle management and new ways of communicating the overall value proposition for customers in particular.

Product underpins growth plans for Evoke
The product proposition is enhanced by a revamp..

July 18, 2024

Evoke misses H1 EBITDA target, cites leadership change as H2 growth driver

Evoke Plc missed its H1 2024 adjusted EBITDA target by £35m to £40m due to high marketing costs and lower than expected revenue, it said in a trading update today.

The 888, William Hill and Mr Green parent company expects to mitigate its losses in H2 by employing up to £30m in cost savings and meeting its full-year earnings expectation.

A change in leadership and operational overhaul were cited as key drivers for cost efficiencies in the second half of the year. This includes 888’s new strategy and value creation plan, set out in March.

As a result, the firm expects H2 2024 revenue growth to be in line with its medium-term guidance of 5%-9%. It also hopes to deliver a 20% EBITDA margin in 2025. Marketing costs will be between £35m and £40m lower in H2 than in H1.

In an analyst note, Regulus Partners said the profit warning was “neither small nor unlucky”.

On the impact from marketing spend, Regulus said: “What is slightly alarming is that such poor tactics were allowed to unfol..

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Tag: Evoke