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Higher gaming taxes hit Evoke
Evoke, the company behind William Hill, 888 and Mr Green, has reported a mixed first half of 2026, with higher gaming taxes putting pressure on its profits.
The company made £887.5 million in revenue during the six months to June 30, almost the same as last year. But its adjusted EBITDA, a measure of the money the business makes from its operations, fell 10% to £150.2 million.
The main reason was higher gambling taxes, particularly in the UK.
Evoke said its gaming tax bill increased by £46 million compared with the same period last year. More than half of this extra cost was recovered by cutting marketing spending, improving promotions and reducing other costs. However, the higher taxes still had a significant impact on profits.
Some areas are performing well
Evoke’s UK and Ireland online business grew 4%, with William Hill’s online casino business up 7%.
Italy was another strong performer, with revenue increasing 21%, while Denmark grew 13%.
The company’s remaining William Hill betting shops also performed better on a like-for-like basis, with retail revenue up 4%. However, Evoke has been closing shops as it focuses on making its remaining locations more profitable. Around 270 betting shops were closed compared with the previous year.
Other parts of the business are struggling
The picture was less positive for 888 and several international markets.
Revenue from 888 fell as Evoke deliberately reduced spending on attracting new customers, choosing instead to focus on more profitable customers.
International revenue overall dropped 2%, with weaker performances in Spain, Romania and other markets cancelling out the growth in Italy and Denmark.
The company also reported a £70.2 million loss after tax, although this was broadly unchanged from the same period last year.
Evoke is continuing to invest in technology, including data, automation and AI, while trying to keep costs under control.
What happens next?
The results come at an important time for Evoke because the company is in the process of being bought by Bally’s Intralot for £243.1 million.
The deal still needs shareholder and regulatory approval and is expected to be completed towards the end of 2026 or during the first quarter of 2027.
For now, Evoke says trading is in line with expectations and that customer activity has been strong ahead of the new football season.
Overall, the results show a business under pressure from higher taxes rather than one in serious decline. Revenue is holding up, and parts of the business are growing, but rising gambling taxes are making it harder for Evoke to turn that revenue into profit. The upcoming Bally’s Intralot takeover will now shape the company’s next chapter.
