Evoke has reported third-quarter 2025 revenue of £435m ($580m), a 5% year-on-year increase, maintaining growth across all three divisions: Online, International and Retail.
The company said the performance reflected ongoing execution of its turnaround plan, with contribution growing faster than revenue as marketing efficiency initiatives continue to take effect.
Operating performance in the UK & Ireland Online division was mixed, with overall revenue up 1%.
Sports betting rose 8%, benefitting from weaker prior-year win margins, while gaming revenue declined 2% as marketing investment was refocused to improve profitability.
The International division led overall group performance, with revenue up 8% (+6% in constant currency). Italy, Denmark and Romania posted strong double-digit growth, offset by softer trading in Spain and a decline across non-core markets.
The Retail division delivered a 6% revenue rise, supported by stronger gaming activity following the rollout of new machines earlier in the year.
Evoke completed a major refinancing during the quarter, issuing new 8.0% EUR fixed-rate notes due 2031.
The move replaces its previous 2027 issuance and is expected to reduce annual cash interest costs by around £5m, while extending its maturity profile to 2028.
CEO Per Widerström said: "With Retail continuing the improving trend from Q2, all three divisions were in growth during the quarter. We have clear plans to support further revenue improvement in Q4 through product upgrades and our new William Hill Vegas app."
Evoke highlighted accelerating growth in Denmark, where migration to its in-house platform and product upgrades drove a 19% rise in constant currency revenue.
In Italy, 888 achieved further market share gains in casino, while William Hill recovered to pre-migration daily revenue levels on its upgraded Exalogic platform.
In Romania, the migration of 888 onto the Winner.ro platform has now been completed, unlocking new localisation capabilities.
Meanwhile, William Hill's new omni-channel Acca Boost product and enhanced Bet Builder features drove continued momentum in football accumulators across both retail and online channels.
Evoke reiterated its FY25 guidance for an adjusted EBITDA margin of at least 20%, alongside medium-term targets of 5-9% annual revenue growth and around 100 basis points of margin expansion per year through 2027.
These results follow the company's Q2 2025 update, when it also posted 5% revenue growth and confirmed a strong deleveraging trajectory after improved profitability across its brands.
Both the William Hill and 888 brands recorded double-digit contribution growth
