Evoke’s revenue for the first half of 2026 saw little movement due to UK tax increases, just as its acquisition by Bally’s Intralot nears. The company reported a slight dip to £887.5 million in revenue, compared to £887.8 million the previous year. Meanwhile, EBITDA dropped by 12% to £124.8 million. As expected, an adjusted EBITDA of £150.2 million was reported, but Evoke faced a steep £46 million rise in gaming duties. But the boost in taxes was primarily because of the UK’s Remote Gaming Duty rate hike from 21% to 40% starting April.
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Operational Adjustments and Industry Challenges
Evoke managed to offset over half of the gross duty impact during H1 through efficient marketing, better promotional strategies, and cost savings. CEO Per Widerström noted the firm’s operational enhancements, stating they helped Evoke navigate the taxing environment effectively. He emphasized their strategy of focusing “on the areas within our control” led to maintaining revenue growth and safeguarding profitability. These improvements have placed Evoke in a resilient position during challenging times.
Regional Performance Highlights and Setbacks
In the UK & Ireland, Evoke’s online revenue rose 4%, with gaming alone seeing a 7% uptick—boosted by William Hill’s strong performance. Adjusted EBITDA for this segment climbed 28%. However, the strategy to prioritize profitability over volume led to a decline in revenue from 888. Internationally, revenue slipped 2% despite gains in Italy (21%) and Denmark (13%), with Spain and Romania performing weaker. The international adjusted EBITDA fell 20%, influenced by increased duties in Romania and Italy, though Bally’s Intralot seems committed to retaining its Italian operations, seeing it as a valuable asset.
Retail Segment and Bally’s Intralot Acquisition
Evoke’s retail revenue showed a 4% like-for-like growth, driven by gaming machine rollout and SSBT improvements, yet reported a 3% decline due to a reduced retail footprint—closing 200 William Hill shops in May. The focus remains on enhancing profitability in existing shops. Bally’s Intralot announced a deal in June worth around £243.1 million for Evoke, which was prompted by tax pressures in the UK. The takeover, pending shareholder and regulatory approvals, is on track for late 2026 or early 2027. Until then, Widerström stated Evoke’s focus remains on customer service, team support, and strong cash flow.
Future Directions and Industry Context
Evoke refrained from issuing forward guidance due to the impending acquisition. And this move is expected to reshape the company’s future strategies significantly. Bally’s Intralot’s acquisition marks another trend of consolidation in the gaming industry, with operators seeking to optimize amidst regulatory and taxation pressures. Whether the completion of this takeover actually impacts Evoke’s market strategies will be keenly watched by industry insiders. Still, the board is poised to vote on the deal’s approval by the end of this year.
Garry Sputnim is a seasoned journalist and storyteller with over a decade of experience in the trenches of global news. With a keen eye for uncovering stories that resonate, Alex has reported from over 30 countries, bringing light to untold narratives and the human faces behind the headlines. Specializing in investigative journalism, Garry has a knack for technology and social justice issues, weaving compelling narratives that bridge tech and humanity. Outside the newsroom, Garry is an avid rock climber and podcast host, exploring stories of resilience and innovation.
