Evoke plc Swings From £77M Loss to £12.6M Profit

Evoke plc, the owner behind William Hill and 888, has executed one of iGaming’s most remarkable turnarounds. After posting a £1.75 billion revenue figure in 2024, marking a 3% year-over-year increase, the company flipped its previous losses to achieve adjusted profitability. The latest results show a 44% increase in adjusted EBITDA, reaching £165.9 million in H1 2025, up from £115.5 million in the same period last year.

That growth helped Evoke purge its losses. The adjusted pre-tax result swung from a £9.8 million loss to a £12.6 million profit, showing financial resilience after a major strategic realignment. While underlying earnings dipped earlier due to restructuring and the William Hill acquisition—resulting in a pre-tax loss of £191 million in 2024, CEO Per Widerström insists the business is now on the right path.

Now, with the business pointed toward its performance goals, Evoke reiterated its full-year revenue growth target of 5–9% and maintained its ambition to deliver 20%+ adjusted EBITDA margins. In short: from red to green, Evoke’s rebound is proof that iGaming turnarounds don’t get more dramatic, or more optimistic, than this.

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