Evoke returns to growth with revenue up 3% in Q3

The former 888 Holdings has reported its first quarter of growth since 2022.

UK.- Evoke Plc, formerly 888 Holdings, has posted revenue of £416.6m for Q3. That’s a rise of 3 per cent year-on-year, and 4 per cent in constant currency. It said its market share had grown in the core international markets of Denmark, Italy, Spain and Romania. 

Unfavourable sports results caused retail revenue to slip 9 per cent and overall sports betting revenue to fall by 10 per cent in the UK and Ireland and 2 per cent internationally. However, gaming revenue was up by 12 per cent in the UK and Ireland to £115.2m.

International revenue grew the most, up by 14 per cent to £122.2m, representing 33.5 per cent of group revenue. Performance was particularly strong in Italy, where revenue rose 31 per cent.

Evoke CEO Per Widerström said cost savings were being achieved as planned, with savings of £23m this year so far through a simplification of the business model from 10 layers to six. He said the company was maintaining its H2 revenue guidance of 5 to 9 per cent year-on-year growth and an adjusted EBITDA margin of around 21 per cent. 

He said: “Our online business is a clear growth engine and we saw a return to double-digit online revenue growth in our core markets in Q3 2024 underpinned by our focused market strategy and supported by important product investments and the results of our clearer customer value proposition and segmentation.”