evoke plc sets April 29 FY25 results date amid share slump, strategic review

London-listed evoke announced it will release its FY25 results on 29 April. The reporting comes after a turbulent period, which has involved headwinds from the UK Autumn Budget, a share price plunge, and talks of a potential sale. 

The company's shares have fallen 61% over 12 months to 27.35 pence, ahead of the company’s FY25 results scheduled for April 29.

The gambling group, which owns William Hill, 888, and Mr. Green, has also seen its valuation decline from a peak of 458 pence in October 2021. Its market capitalization stands at £123.8 million ($165 million), and the company has moved from the FTSE 250 index to the FTSE All-Share index.

Despite the share price movement, evoke said it expects full-year 2025 revenue and adjusted earnings to be in line with guidance issued in late January.

The company guided for FY25 revenue of about £1.79 billion, compared with £1.75 billion in 2024. Adjusted EBITDA is expected between £355 million and £360 million, up from £312.5 million a year earlier.

The group added that trading in the first quarter of 2026 has started positively, with performance in line with the board’s expectations.

Later reporting date and ongoing review

The April 29 results date is later than previous years, when evoke reported FY23 and FY24 results on March 26. The release falls nearly a month further into the second quarter.

At the same time, the company continues a strategic review that includes a potential sale of the group or selected assets. evoke appointed Morgan Stanley & Co International and Rothschild & Co in December to advise on options. It has not disclosed whether any transaction would involve the entire business or individual units.

If William Hill is included in any sale, it would be the third ownership change for the brand in the current decade, following acquisitions by Caesars Entertainment in 2020 and evoke in 2022. The company also indicated that additional William Hill shop closures could be considered.

evoke has outlined the expected impact of the UK Autumn Budget, which includes an increase in remote gaming duty to 40%. The company said the change could create conditions for black market operators to gain ground relative to licensed firms.

“The decision today by the UK government to substantially raise taxes is highly damaging for the economy and consumers,” said Chief Executive Officer Per Widerström.

“As an industry, we have consistently warned of the significant impact on jobs, investment in the UK, and player protection that these changes would have, yet sadly, the Government has chosen not to listen. These proposals are ill-thought-through, counterproductive, and highly damaging,” said Widerström.