evoke Warns Against Further UK Machine Games Duty Rise as Q3 Revenue Falls 7% to £406m
evoke reported Q3 revenue down 7% to £406m after closing 270 shops, citing prior UK tax rises. The operator urged caution on further machine games duty increases ahead of the Autumn Budget. Its acquisition by Bally’s Intralot, valued at £243.1m, remains on track for late 2026 or early 2027.
SCCG Take — Repeated tax rises are visibly contracting the UK retail estate and pushing operators toward scale via acquisition. The pending Bally’s Intralot deal signals that consolidation remains the clearest path to offset margin pressure.
evoke has urged the UK government to think carefully before any additional increase in machine games duty as the Autumn Budget approaches.
In its third quarter trading update the operator of William Hill, 888 and Mr Green reported group revenue declining 7% to £406m compared with the same period last year. The closure of approximately 270 retail shops contributed to that fall and illustrated the effect of higher industry taxation on jobs and livelihoods.
Per Widerström, Chief Executive Officer of evoke, stated: “On an underlying basis, the business continues to show resilience and reflects our continued emphasis on profitability and cash generation following the substantial increases in gaming duties, particularly in the UK.” He added that the shop closures “show the real impact on jobs and livelihoods from higher industry taxation, and we urge the UK Government to carefully consider any further increases ahead of its forthcoming Autumn Budget.”
Customer-friendly sports results delivered an approximately 1-2ppt headwind to year-over-year revenue growth on a group basis, leaving revenue broadly stable on a normalised basis. Given evoke’s portfolio of machines in William Hill shops, any rise in machine games duty – whether 40%, 25%, or none – would affect operations directly. Chancellor John Healey is due to deliver the budget next Wednesday.
Acquisition by Bally’s Intralot Remains on Track
The update also confirmed that evoke’s acquisition by Bally’s Intralot continues to progress as planned toward completion in late Q4 2026 or early Q1 2027. The deal, first announced in June, offers investors 0.537 new Intralot shares for each evoke share. That equated to a value of 52p per evoke share based on Intralot’s share price of €1.12, placing an approximate £243.1m value on the entire issued ordinary share capital at a £2.2bn enterprise value.
Both sets of shareholders have passed the required resolutions and most regulatory approvals have been received. Widerström added: “We remain focused on disciplined execution and operational efficiency as we progress towards completion of the acquisition, which continues to progress as planned towards completing in late Q4 2026 or early Q1 2027.” The details appear as reported by Slot Beats.
Reporting: Slot Beats
Generated by SCCG’s automated editorial system from published source reporting. SCCG Management holds editorial responsibility.
Gaming, betting and prediction markets — the desk’s read, every weekday.
Subscribe →