Evoke has published a statement explaining that it will launch a review into the company that may result in the sale of some of its assets, or potentially a sale of the group.
The report explained that "the board of directors of the company confirms it has decided to undertake a review of the company's strategic options, which will include the consideration of a range of potential alternatives to maximise shareholder value, including, but not limited to a potential sale of the group, or some of the company's assets and/or business units."
Shareholders have been assured that nothing has been decided yet, and that no transactions may take place.
As part of the strategic review, Evoke has appointed Morgan Stanley & Co. International and Rothschild & Co as joint financial advisers in the matter.
Although Evoke published positive Q3 results, with revenue increased by 5% year-on-year, it seems like this recent decision is more heavily influenced by the recent UK Budget announcement.
In its initial response to the Budget, Evoke explained that: "The group is withdrawing its medium-term financial targets as it evaluates its future investment plans as a result of these significant duty changes. A further update will be provided as and when appropriate."
Per Widerström, Evoke CEO, explicitly said: "We will begin immediately on executing our mitigation plans, which involve a significant reduction in investment into the UK, and, very regrettably, the likely need for thousands of jobs to be cut up and down the country."
Towards the end of November, William Hill announced that it will leave 13 countries across Africa and Asia, too.
Players from the following countries will no longer be able to use Evoke platforms or services: Angola, Bolivia, Burkina Faso, Cameroon, Kenya, Mozambique, Nepal, Nicaragua, Nigeria, Republic of Congo, Democratic Republic of Congo, Somalia and Vietnam.
In the Netherlands, the Kansspelautoriteit (KSA) recently reprimanded Godwits Limited and Evoke after players reported that the customer service channel was impossible or extremely difficult to reach.
Evoke's share price is also at an all-time low, falling to 20.95 GBp on 8 December - although immediately after the strategic review and potential sale were announced, the share price jumped to 24.75
