William Hill owner Evoke's Q3 revenue falls on UK shop closures, unfavourable sports results

By Reuters News

Oct 23 (Reuters) - British betting and gaming company Evoke EVOK.L on Friday reported a 2% fall in third-quarter revenue, on a like-for-like constant currency basis, weighed down by store closures and unfavourable sports results early in the football season.

Here are some details:

  • The company, which owns betting brands such as William Hill, 888 and Mr Green, reported a revenue of £406 million ($543.51 million) for the quarter ended September 30

  • Sports outcomes that resulted in higher payouts to winning betters at the start of the football season trimmed revenue growth by about 1 to 2 percentage points year-on-year, Evoke said

  • In March, Evoke said it would shut a number of betting shops following tax hikes announced last year

  • CEO Per Widerström said the closure of 270 shops over the past year "shows the real impact on jobs and livelihoods from higher industry taxation"

  • Evoke urged the UK government to carefully consider any further tax increases ahead of its upcoming autumn budget

  • The debt-laden company agreed to be acquired by Greek lottery and gaming firm Bally's Intralot BYLOTr.AT in June

($1 = 0.7470 pounds)

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