Gaming machine investment pays off for evoke retail growth
Summary
evoke reported a retail comeback in Q3 2025 driven largely by new gaming machines, with retail revenue up 6% year‑on‑year to £54.6m and group revenue rising 5% to £435m. Both betting and gaming revenues improved, international markets delivered an 8% uplift and UK&I online was broadly flat (1% growth) as marketing was tightened to focus on profitability.
CEO Per Widerström highlighted product enhancements (including the William Hill Vegas app), improvements to customer lifecycle management and operating efficiencies as reasons for continued confidence. The group reiterated FY25 guidance of at least a 20% adjusted EBITDA margin and set medium‑term targets of 5–9% annual revenue growth, ~100bps adjusted EBITDA margin expansion per year and leverage below 3.5x by end‑2027.
However, the picture is not without risk: proposed UK gambling tax changes in the upcoming November budget could force closure of 120–200 William Hill shops and put up to 1,500 jobs at risk, potentially undoing retail momentum.
Key Points
- Q3 retail revenue rose 6% YoY to £54.6m; group revenue increased 5% YoY to £435m.
- New gaming cabinets were a key driver of the gaming revenue uplift (6% YoY).
- International revenue grew 8% YoY, with strong showings in Italy, Denmark and Romania.
- UK&I online saw only 1% growth as marketing was scaled back to improve returns.
- evoke warns that UK tax proposals could force 120–200 shop closures, risking around 1,500 jobs.
- The group reaffirmed targets: ≥20% adjusted EBITDA margin for FY25 and multi‑year growth and margin improvement goals.
Why should I read this?
Quick heads up: evoke’s retail push is paying off — new cabinets and product upgrades are working — but an imminent UK tax decision could wipe that smile off their face. If you track UK retail betting, operator strategy or sector jobs, this is worth a fast read.
Source
Source: https://igamingexpert.com/features/evoke-retail-q3-2025-uk-tax/
