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Thu. Jan 29th, 2026

Evoke posts strongest quarter yet CEO criticizes tax hike in UK Budget


Dark background of a sign with the sign 'evoke' in green and its brands listed under '888' 'William Hill' and 'Mr Green.' Evoke Q4 earnings hit by UK Budget

Gaming company Awakening Plc saw its strongest quarter of the year, with revenue reaching £464 million ($635 million) but the CEO highlighted disappointment in UK budget which he said dealt a ‘significant blow to the wake and the wider regulated industry.’

It was last November when the UK government announced a number of changes to gambling taxes, including an increase in remote gaming duty that will increase from 21 to 40 percent, starting in April 2026.

A creation of a new 25% general betting duty for online gambling has also been made, but it will not be implemented until April 2027. When it was announced, several gambling companies made their feelings known, including Flutter who acknowledged the “very large impact on the general market.”

Speaking in the latest quarter, Per Widerström, CEO of evoke, commented: “During Q4 we made good progress against our strategic plans, delivering our best quarter of the year and reflecting the underlying momentum of the business.

“Our focus on core markets continues to drive our revenue growth, with Italy and Denmark both delivering record quarterly revenue in Q4. This positive momentum continues into 2026 with a strong start to the year with good growth in all divisions.”

Stimulating Q4 analysis
Even with some encouraging numbers, the business still ended up 3 percent lower than last year. Full-year revenue came in at £1.78 billion, missing analysts’ expectations of £1.84 billion. The company also lowered its adjusted pre-tax profit forecast to £355 million–£360 million, below earlier guidance of £362 million, a sign it is not hitting its own targets. Unsurprisingly, the market was not impressed. When the update came down, the shares fell by 10%, showing clear investor frustration.

Evoke sees Q4 revenue reach £464M

The company’s Q4 revenue rose 7% quarter-over-quarter, but declined 3% year-over-year said to be the result of a strong comparative period in the operator’s sporting results last year.

The CEO continued to explain about the Budget: “While the strong strategic and financial progress we have made throughout 2025 is encouraging, we are very disappointed with the outcome of the UK Budget in November which has delivered a significant blow to the stimulus and the wider regulated industry.

“We continue to believe that these tax increases will negatively impact the industry’s economic contribution, customer protection, and ultimately serve to support the further growth of the illegal black market. The rise in UK taxthe Board assesses its strategic options, with a determined focus on maximizing shareholder value.

The company is said to be moving quickly and decisively to implement mitigation plans including closing unsustainable retail stores, as well as greater cost savings.

Featured Image: By means of evoke Plc news page

The post Evoke posts strongest quarter yet CEO criticizes tax hike in UK Budget first appeared in ReadWrite.





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