evoke has reported that its adjusted earnings fell in line with expectations in H1, falling by 12% to £150.2m, having been offset by a £46m year-on-year increase in gaming duties, predominantly from the UK.

The gambling firm, which owns brands including William Hill and 888, saw its revenue increase by 2% year-on-year on a like-for-like basis to £887.5m, excluding the impact of approximately 270 fewer retail shops.

In the six months to 30 June, its UK and Ireland online revenue increased by 4%, while its international revenue dropped by 2%. While it recorded growth in Italy (21%) and Denmark (13%), this was offset by weaker performances in Spain, Romania and its rest of world markets.

evoke said that it has taken decisive action to mitigate the increased gaming duties, offsetting over half of the gross year-on-year increase in gaming duties through commercial and operational actions.

It also added that following its agreed acquisition by Bally’s Intralot, the takeover is set to be completed in the fourth quarter of 2026 or the first quarter of 2027.

CEO at evoke, Per Widerström stated: "The first half demonstrated the resilience of the business in a significantly more challenging operating environment following substantial increases in gaming duties introduced across some of our core markets, most notably in the UK.

"We responded decisively, focusing on the areas within our control. As a result of the significant operational improvements we have implemented across the business in recent years, coupled with the successful mitigation of a meaningful proportion of the increased duty costs, we have been able to maintain operational momentum, deliver like-for-like revenue growth, and protect profitability and cash generation.

"Following the Board's strategic review, in June we announced the recommended acquisition of evoke by Bally's Intralot. The Board unanimously concluded that the transaction represents the most attractive and deliverable outcome for shareholders, while providing a stronger long-term capital structure for the business. Until completion, our priorities remain unchanged."

In its outlook, evoke said its trading since the period end has remained in line with management expectations, with strong levels of engagement throughout the World Cup, providing what it describes as a “good foundation” ahead of the upcoming football season.

Due to its discussions with Bally’s Intralot, the gambling firm’s board is not providing forward-looking financial guidance.

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