William Hill Owner Evoke Reports 7% Q3 Revenue Fall As Shops Close
Evoke, the owner of William Hill, 888 and Mr Green, reported third-quarter revenue of £406 million, down 7% on a reported basis.
The group said the fall stemmed from about 270 fewer retail shops and more customer-friendly sports results, and linked the shop closures to higher gambling taxes.
UK punters comparing betting sites will see the high street estate shrinking.
The London-listed group set out the numbers in its Q3 2026 trading update on October 23, 2026.
Revenue Breakdown
On a like-for-like, constant-currency basis, excluding the effect of the closed shops, revenue fell 2%. Evoke said customer-friendly results at the start of the football season took roughly 1 to 2 percentage points off year-on-year growth.
Stripping that out, the company described revenue as broadly stable on a normalised basis.
The trading update is unaudited and covers the three months to September 30, 2026.
Shop Closures And Tax
Chief executive Per Widerström said the underlying business continues to show resilience, with an emphasis on profitability and cash generation following substantial increases in gaming duties, particularly in the UK.
He said the closure of 270 shops over the past year shows the real effect of higher industry taxation on jobs and livelihoods.
He urged the UK government to consider carefully any further increases ahead of its forthcoming Autumn Budget.
Half-Year Context
The update follows Evoke's H1 2026 results in August. Group revenue for the half was £887.5 million, up 2% like-for-like and stable as reported.
Adjusted EBITDA was £150.2 million, reflecting a £46 million year-on-year increase in gaming duties, predominantly in the UK.
The company said it offset over half of that gross duty headwind through lower but more effective marketing, improved promotional efficiency and cost savings.
Net leverage rose to 5.6x at the end of June from 5.2x at the end of 2025.
Bally's Intralot Takeover
Evoke also updated shareholders on the recommended acquisition by Bally's Intralot.
Both sets of shareholders have passed the required resolutions at their meetings, and most of the regulatory approvals have now been received.
Subject to the remaining conditions being met or waived, completion is expected in late fourth quarter 2026 or early first quarter 2027. The company said the deal is progressing as planned.
The all-share deal was announced on June 5, 2026. Under its terms, Evoke shareholders receive 0.537 new Bally's Intralot shares per Evoke share, worth about 52 pence a share at announcement and valuing Evoke at roughly £243.1 million.
A cash alternative of 52 pence per share is capped at £117.1 million in total.
What To Watch
Two things matter next.
The first is the UK Autumn Budget, in which any change to remote or retail gambling duties would feed straight into Evoke's cost base and shop estate.
The second is the final regulatory sign-off for the Bally's Intralot deal.
Evoke's next full set of figures will show how far the early results of the football season have evened out.
For the latest UK industry developments, see our UK gambling news hub.
