evoke may have indicated that a decision could be close regarding the strategic review of its operations that led to much speculation about the future of the company at the end of last year.
The William Hill, 888 and Mr Green operator announced in a statement this week that it intends to publish its financial results for the year ended 31 December 2025 (FY25) on 29 April.
FY25 revenue and adjusted EBITDA indicators were also provided, with the group stating that it expects the figures to be in line with the trading update provided at the end of January – revenue up 2% year-over-year to approximately £1.79bn, adjusted EBITDA in the range of £355m-£360m (approximately 14%-15% increase YoY), in line with market expectations.
evoke also stated that Q1 2026 has ‘started positively with current trading being in line with the board’s expectations’, without providing any specific updates on the ongoing strategic review.
Instead, the group said the following: “As previously announced on 10 December 2025, the board is undertaking a review of the group’s strategic options, including the consideration of a range of potential alternatives to maximise shareholder value.
“The strategic review remains ongoing, including discussions relating to a potential sale of the group, or some of the group’s assets and/or business units. A further update will be provided as and when appropriate.”
The timing of evoke’s FY25 results aligns with the UK entering a new era for taxation and a new landscape in the UK truly beginning to take shape.
While evoke is giving very little away in terms of the completion of the review, the firm has indicated that discussions are underway and progress is being made – a positive indication for those watching the future of the company in the UK closely.
Mitigating UK tax increase
Challenges could be on the horizon for many iGaming operators in the UK market, with remote gaming duty rising to 40% from April. When these changes were announced last November, evoke responded by announcing its strategic review.
After the iGaming tax hike was declared, evoke Chief Executive Officer Per Widerström called it “highly damaging for the economy and consumers” as well as “ill-thought-through” and “counterproductive”, noting that it will impact jobs, UK investment and player protection.
However, the operator also stated that it would be able to manage the situation given its strong presence in the UK market.
evoke said: “The group currently expects to be able to mitigate approximately 50% of the impact from higher duties over the medium-term through supplier savings, reduced marketing, retail store closures, operating cost savings and potential changes to the customer proposition.
“As one of the leading and largest operators in the UK market, the group is better positioned than many to navigate this increase and over time, potentially stands to benefit from further consolidation of market share with the likely exit of smaller operators due to the rising costs.”
evoke demonstrated this in its Q4 results back in January, its strongest quarter of the year, with approximately £464m in revenue, driven by 9% YoY uptick in gaming following 888casino returning to growth in the UK and retail revenue rising by 10%.
However, the group also confirmed the closure of more shops in its UK retail portfolio as a result of tougher taxation rates in other verticals and despite the sector itself not receiving a tax increase.
Investors will be hoping the UK operator will provide a clear answer and direction to its strategic review when it announces its FY25 results at the end of next month.
