Evoke, the owner of William Hill, 888 and Mr Green, reported a 7% year-on-year revenue decline for the third quarter of 2026, as the closure of approximately 270 UK betting shops and customer-friendly sports results affected its performance.
The gambling operator generated £406 million during the three months ending September 30. On a like-for-like constant currency basis, excluding the impact of its reduced retail network, revenue fell 2%.
Sports results at the beginning of the 2026/27 football season created an additional headwind of approximately one to two percentage points. After adjusting for these factors, the company described underlying revenue as broadly stable.
The trading update also confirmed continued progress on Evoke’s acquisition by Bally’s Intralot, with completion expected in late 2026 or early 2027.
William Hill Closures Weigh on Quarterly Revenue
Evoke’s smaller retail estate contributed significantly to the annual revenue decline, following a restructuring programme introduced in response to higher UK gambling taxes.
The operator closed approximately 70 betting shops during the fourth quarter of 2025, followed by another 200 William Hill locations from May 24, 2026.
Management attributed the decision to increased operating costs associated with changes to gambling duties, which affected the financial viability of parts of its retail business.
The impact had already emerged in Evoke’s first-half results, when retail revenue declined 2.6% to £245.6 million. However, like-for-like revenue increased 4% after excluding closed shops.
Chief Executive Per Widerström linked the restructuring to the wider financial pressure facing British bookmakers, stating in a press release:
“On an underlying basis the business continues to show resilience and reflects our continued emphasis on profitability and cash generation following the substantial increases in gaming duties, particularly in the UK. The closure of 270 shops over the past year shows the real impact on jobs and livelihoods from higher industry taxation, and we urge the UK Government to carefully consider any further increases ahead of its forthcoming Autumn Budget.”
The company has indicated that it currently plans no additional closures, although its position may change depending on the outcome of the upcoming budget.
Football Results Affect Sportsbook Performance
Evoke also experienced weaker sports betting margins during the opening weeks of the football season.
Favourable results for customers increased payouts and reduced the revenue retained by the operator.
These outcomes contributed to the difference between reported and normalised quarterly performance.
The company has increasingly concentrated on operating profitability and cash generation following substantial increases in UK gaming duties.
During the first half of 2026, additional gambling taxes reduced earnings by approximately £46 million year-on-year.
Management responded with cost-saving measures and changes to marketing expenditure intended to improve returns.
The company has also sought to strengthen operating efficiency while maintaining activity across its online gambling businesses.
The forthcoming UK Autumn Budget remains an important consideration, with the industry warning that further increases in gambling taxation could place additional pressure on operators.
For Evoke, the next fiscal decisions may influence the economics of its remaining retail estate.
Bally’s Intralot Acquisition Progresses Toward Completion
Evoke also provided an update on its recommended acquisition by Bally’s Intralot, which agreed to purchase the company in June 2026 through an all-share transaction valued at approximately £243.1 million.
Shareholders of both businesses have approved the required resolutions, and the majority of regulatory approvals have been received.
The transaction remains subject to outstanding conditions, with completion anticipated during the final quarter of 2026 or the first quarter of 2027.
The acquisition followed a strategic review of Evoke’s financial position amid rising taxation and other operating pressures.
Widerström said management would continue focusing on financial discipline while preparing for the ownership change.
“We remain focused on disciplined execution and operational efficiency as we progress towards completion of the acquisition, which continues to progress as planned towards completing in late Q4 2026 or early Q1 2027.”
The deal remains on its previously announced timetable, although the remaining regulatory and contractual requirements must be satisfied before completion.
Meanwhile, Evoke continues to operate with a smaller UK retail network, with its latest results reflecting both the effects of shop closures and weaker sportsbook margins.