London-listed industry giant evoke is set to release its FY25 results on 29 April after a turbulent period which has involved headwinds from the UK Autumn Budget, a share price plunge and talks of a potential sale. 

Investors in the business, which owns brands including William Hill, 888 and Mr Green, will have to wait until mid-Spring to see financial results for the year ended 31 December 2025. 

This may have raised a few eyebrows, given that for both FY23 and FY24, evoke released its annual results on 26 March, and the release date of 29 April is nearly a month into Q2 2026. 

Despite hypothetical concerns from onlookers, the firm expects FY25 revenue and adjusted EBITDA to be in line with the trading update provided on 27 January, coming in at £1.786bn and £355-360m respectively. This would represent a year-on-year increase of 2% and 14-15%.  

It has also stated that “Q1 2026 has started positively with current trading being in line with the board’s expectations”, whilst also confirming that a strategic review, which includes a potential sale of the group, is still ongoing. 

evoke’s potential sale

evoke has not been shy in admitting that the impact of the 2025 Autumn Budget announced by Chancellor Rachel Reeves would be negative. The business was scathing of the incoming rise in remote gaming duty to 40%, saying it provides opportunities for black market operators to grow at the expense of licensed firms. 

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

“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. 

“It is clear these changes will significantly harm businesses, employees and customers.”

The news caused another drop in its already-downward trending share price, which now sits at 28.6p – way off its 458p peak in October 2021. 

Its market cap has fallen to £123.8m and the business has now slipped off the FTSE 250 index and onto the FTSE All-Share index. Signs so far in 2026 have been slightly more positive, with shares up by 6.25p (28.22%) this year to date. 

However, executives at evoke are still reviewing strategic options including a potential sale, having hired advisors Morgan Stanley and Co International and Rothschild and Co in December. 

It is unclear whether a sale would be of the entire group, or of certain assets. If William Hill is sold, this would mark the third time the heritage UK brand has been bought in the current decade – first by Caesars Entertainment in 2020 and then by evoke in 2022.

More William Hill shop closures could also be on the cards and the untraditionally late financials add just the latest element of uncertainty to a business which has been hit with all manner of challenges over the past 12 months.