Evoke Q3 revenue falls 7% to £406m as fewer shops weigh on comparison

Evoke reported third-quarter revenue of £406m ($543.1m), down 7% on a reported basis, as weaker football results and a smaller betting-shop estate affected its comparison with 2025. 

The operator said revenue for the three months to 30 September fell 2% on a like-for-like, constant-currency basis after adjusting for about 270 fewer shops. 

Customer-friendly sports results at the beginning of the football season were a further headwind of approximately one to two percentage points to group revenue growth, according to Evoke. 

On a normalised basis, which adjusts for both the shop closures and expected sports margins, it described revenue as broadly stable. The update does not break out performance for its William Hill, 888 and Mr Green brands or for individual operating divisions.

The retail contraction sits alongside higher gambling duties across several regulated markets. In its first-half report, Evoke said additional duties had increased costs by £46m year-on-year, predominantly in the UK. It had closed about 200 shops in May as it sought to reduce costs and focus investment on the remaining estate. 

Changes to marketing, promotions and operations offset more than half of the first-half duty increase, the operator said.

Evoke CEO Per Widerström said: "The closure of 270 shops over the past year shows the real impact on jobs and livelihoods from higher industry taxation." 

He urged the UK Government to weigh that effect before its Autumn Budget. The Q3 figures do not isolate how much of the revenue decline was attributable to duty changes, compared with sports results and the reduced estate.

The company also updated investors on its recommended acquisition by Bally's Intralot. Shareholders of both businesses have passed the required resolutions and the majority of regulatory approvals have been received. 

Completion remains subject to outstanding conditions and is expected in late Q4 2026 or early Q1 2027.

The Q3 release is an unaudited trading update and gives no third-quarter EBITDA or net income figure. Those measures therefore cannot yet be compared with the equivalent quarter last year, despite the reported revenue decline.

At the half-year stage, Evoke reported £150.2m in adjusted EBITDA, down 10% despite broadly flat revenue. The Q3 top-line decline followed that earlier margin pressure.