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Home News Evoke Q3 Revenue Falls 7% to £406m as Bally’s Intralot Takeover Progresses

Evoke Q3 Revenue Falls 7% to £406m as Bally’s Intralot Takeover Progresses

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Altay Celikkaya

Content Manager

Updated: 23/10/26

Reading Time: 3 minutes

Evoke reported a 7% year-on-year decline in third-quarter revenue to £406m, as betting shop closures and customer-friendly football results weighed on the gambling group’s performance. Meanwhile, its proposed acquisition by Bally’s Intralot remains on track for completion in late 2026 or early 2027.

William Hill’s owner, 888, and Mr Green confirmed the figures in its official Q3 trading update published on 23 October, highlighting the continued impact of higher UK gambling taxes on its operating structure.

Evoke reports declining Q3 revenue and UK betting shop closures alongside the British flag.

Industry News

Key Takeaways From Evoke's Q3 2026 Results

Evoke’s third-quarter revenue declined 7% year-on-year to £406m.
Revenue fell 2% on a like-for-like, constant-currency basis, excluding about 270 fewer retail betting shops.
Customer-friendly football results reduced revenue growth by an estimated 1–2 percentage points.
The company linked its retail restructuring to higher UK gambling taxes and broader cost pressures.
Bally’s Intralot’s proposed acquisition remains on schedule, with most regulatory approvals secured.

UK Betting Shop Closures Weigh on Revenue

Evoke’s third-quarter performance reflected significant changes to its UK retail operations. The group operated about 270 fewer betting shops than in the corresponding period in 2025, following closures as part of its cost-reduction strategy.

Excluding these closures and currency movements, revenue declined by just 2%. Unfavourable sports results also affected trading. Football outcomes that benefited customers at the beginning of the 2026–27 season reduced year-on-year revenue growth by approximately 1–2 percentage points.

Evoke said revenue was broadly stable after adjusting for these factors and expected sports margins. The company did not disclose quarterly EBITDA or profit figures in the trading update.

Higher UK Gambling Taxes Drive Restructuring

The results come as UK gambling operators adjust to increased taxation. Remote Gaming Duty rose from 21% to 40% in April 2026, while a 25% duty on most remote sports betting is scheduled to take effect in April 2027.

These changes have prompted operators to review costs, including marketing spend, staffing, and retail networks.

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.

Similar pressures have affected competitors. Flutter recently announced plans to cut up to 1,400 jobs across its UK and Ireland operations.

The wider increase in Remote Gaming Duty has also raised concerns about profitability and the competitiveness of licensed operators.

However, betting shops themselves were not subject to the April Remote Gaming Duty increase.

Bally's Intralot Acquisition Remains on Track

Despite the revenue decline, Evoke confirmed continued progress on its proposed acquisition by Bally’s Intralot.

Shareholders of both companies have approved the required resolutions, while most regulatory approvals have been obtained.

The transaction is expected to close in late Q4 2026 or early Q1 2027, subject to the remaining conditions.

The development follows earlier Bally’s Intralot financial results, which highlighted rising debt and the acquisition’s potential financial implications.

For investors and industry stakeholders, the transaction represents a significant consolidation involving established sportsbook and online casino brands.

What Comes Next for Evoke?

Evoke is prioritising profitability, cash generation and operational efficiency as it approaches the anticipated takeover. The company’s next challenges include managing the financial impact of UK gambling taxes, maintaining its digital operations and completing the remaining acquisition requirements.

With the UK Autumn Budget approaching, further gambling tax decisions could influence the operating environment for Evoke and other major operators. The latest results highlight the pressure facing established gambling businesses as they balance cost reductions, regulatory changes and corporate consolidation.