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Who’s Weathering the UK Gambling Storm
William Hill parent company Evoke squeezed out a 1% revenue bump to £437 million in Q1 2025. The gambling group, which also owns 888 and Mr Green brands, saw its UK and Ireland online revenues dip 1% as stricter betting rules took hold.
Player numbers took a serious hit. Active customers dropped 21% after Evoke cut back on promotions.
High street betting shops fared even worse, with retail sales falling 6% compared to last year.
Why Regulation Is Reshaping UK Gambling
The UK slump stems from tougher gambling measures rolling out in recent months. These changes include stricter age verification, identity checks, and limits on promotional activity.
Yet somehow, Evoke’s gaming segment still managed 3% growth in the UK market.
International operations told a different story. Revenues jumped 11%, with Romania driving much of that growth.
April showed signs of recovery too. By April 22, year-to-date revenue growth had improved to 4%.
What Financial Results Reveal
Adjusted earnings hit £330+ million, a figure CEO Per Widerstrom called “significantly higher” than last year. He pointed to their “more efficient operating model” and focus on “sustainable profitable growth.”
The results weren’t as bad as some feared. In March, Evoke had warned investors that Q1 would miss their annual 5-9% growth target, sending shares tumbling.
Despite the slow start, the company still expects to meet full-year goals.
How Management Is Fighting Back
CEO Widerstrom admitted UK performance was “behind where we wanted to be” but said they’d acted quickly to address problems. The April uptick suggests these fixes might be working.
“We are building momentum in the right areas,” he noted, highlighting those strong international numbers.
David Brohan, analyst at Goodbody, said while Q1 weakness was expected, the Q2 acceleration “should be well received” by investors.
Evoke promised to keep “moving decisively” (as Widerstrom put it) to drive long-term growth. More updates will come as 2025 unfolds.
