Evoke Revenue Rises 2% Like-for-Like in First Half Despite Closure of About 200 Stores

Key Facts

Evoke Group’s revenue rose 2% on a like-for-like basis in the first half of 2026, after excluding the impact of having about 270 fewer retail stores than in the same period a year earlier. The company said total group revenue was £887.5 million for the period. The comparison shows like-for-like growth alongside a smaller store network, following the closure of about 200 stores in May 2026. Evoke linked the closures to a programme focused on investing in the remaining locations and improving the profitability of its retail network. Chief Executive Per Widerström said the company had managed to "maintain operating momentum, deliver like-for-like revenue growth, protect profitability and generate cash."

The first-half results provide a different backdrop from the third-quarter figures attributed to the earlier draft: the company’s public disclosure does not confirm third-quarter revenue figures or a rate of decline, nor does it establish the impact of sporting results on revenue. Evoke had set October 23, 2026, as the date for a trading update covering the three months ended September 30. The expected update therefore remains the specified milestone for assessing the period through the company’s disclosure. The alleged decline in store numbers also does not equal a similar fall in revenue, as the company recorded like-for-like growth after excluding the impact of fewer stores. This means performance comparisons depend on distinguishing the total network from comparable-store measures.

Evoke cut marketing spend 18.5% in the first half, from £142.1 million in the corresponding period of 2025 to £115.8 million. Marketing represented 13.0% of revenue in the first half of 2026. The company said mitigation measures offset more than half of the total increase in gaming duties. In Britain, remote gaming duty rose from 21% to 40% effective April 1, 2026. A new 25% duty on online sports betting is also set to take effect on April 1, 2027, with horse racing exempt. These tax changes put pressure on the economics of the business, while marketing cuts and store closures show the company’s steps to reduce costs.

Evoke’s annual revenue was £1,781.9 million in 2025, up 2% from 2024. The average analyst forecast for fiscal 2026 is close to that level, at £1,781 million, based on estimates submitted between August 1 and September 15, 2026. These figures provide context for the group’s scale ahead of the third-quarter update, but do not establish the result for the period ended in September. On ownership, Evoke said completion of the recommended acquisition by Bally’s Intralot is expected in the fourth quarter of 2026 or the first quarter of 2027, subject to the relevant conditions being met. The company is therefore awaiting a trading update while an acquisition remains on a timetable extending into early 2027.