Gaming giant Evoke has published its results for Q2, revealing revenue growth of 5% year-on-year. International core markets are going from strength to strength for the owner of 888, William Hill and Mr Green.
Key Takeaways
- Q2 saw revenue growth of 5% and significant improvements in EBITDA
- Marketing returns are expected to deliver adjusted EBITDA of £163-£167 million
- Retail returned to growth and double-digit performance was seen in International Core Markets
Evoke, the company behind 888, William Hill, Mr Green and others, has reported revenue growth of 5% year-on-year.
The world-renowned gaming brand revealed a significant improvement in performance over the second quarter of 2025. Its success has been attributed to online growth of 6% (or 7% cc) and newly strengthened international core markets, as well as some clever cost-cutting measures.
Results for the quarter were far more positive than those of Q1, during which tightening regulations in the U.K. in particular contributed to the company falling short of its target.
Over the last three months, Evoke has rolled out 5,000 new gaming machines across its estate. The company was also quick to highlight the efficiency improvements made across its operating model during the quarter, which have also helped to boost profits.
Sharing its results, Evoke stated that improved marketing returns are expected to deliver adjusted EBITDA in the range of £163-£167 million. If it happens, it’ll take adjusted EBITDA over £360 million, which would be hugely significant in terms of growth year-over-year.
“We are strengthening our competitive advantages and better aligning our leading brands and products to a clearer customer value proposition,” said CEO Per Widerström.
“Our disciplined strategy with clear focus on our core markets and driving operational excellence is delivering improved profitability and enabling further deleveraging.”
Revenue rises despite dip in sports interest
Q2 wasn’t without its challenges for Evoke, of course. The three-month period was notably tough in terms of sports profitability. This quarter lacked one of the key driving forces behind last year’s profitability, namely the Euros, and 2024’s win margin was also far stronger.
“Q2 2025 marked our second strongest quarterly revenue performance since the beginning of 2023, a particularly encouraging result given the tough comparator from lapping the Euros,” Widerström explained.
“Importantly, this growth was also delivered profitably, in line with our focus on sustainable profitable growth, with H1 adjusted EBITDA significantly ahead year-over-year, supporting our strong deleveraging trajectory in line with the value creation plan.”
Publishing its results, Evoke confirmed that its FY25 expectations remain unchanged. The company is still confident that it will reach its targets of 5-9% revenue growth and an adjusted EBITDA margin of at least 20% before the end of the financial year.
In the second half of this year, Evoke plans to continue increasing revenue through its previously mentioned marketing returns and product delivery, while further cost-cutting measures boost efficiency across the business.
Per Widerström predicts further progress in Q3
CEO Per Widerström remains committed to the group’s recent strategy shift, and is positive about what’s to come for the company over the remainder of this financial year.
“I am pleased to report an improvement in the growth rate during Q2, with Retail returning to growth and continued double digit performance in our International Core Markets,” said Widerström.
“Alongside the improved Q2 performance, we continue to transform the Group’s capabilities for the mid and long-term... I look forward to sharing more detail on our progress and plans at our Interim Results in August.”
