Evoke, Owner of William Hill UK, Delays 2026 Forecast Amid Review

Evoke's Strategic Review and Financial Outlook

Jan 27 (Reuters) - William Hill UK and 888 owner Evoke reported a 3% year-on-year fall in fourth-quarter revenue on Tuesday and withheld forward guidance as it reviews strategic options after the UK budget raised taxes on the gambling sector.

Impact of Tax Increases on the Industry

The debt-laden betting company forecast its adjusted core profit to be in line with market expectations, between 355 million pounds and 360 million pounds ($486 million and $493 million), for the year ended December 31.

Current Financial Performance and Expectations

UK-focussed Evoke announced plans for a strategic review in December, including a potential sale, and withdrew its medium-term targets after British Finance Minister Rachel Reeves announced a rise in levies on online gaming in her November budget.

"We continue to believe these tax increases will negatively impact the industry's economic contribution, customer protection, and will ultimately serve to support further growth in the illegal black market," CEO Per Widerstrom said in a statement. 

($1 = 0.7307 pounds)

(Reporting by Simone Lobo and Nithyashree R B in Bengaluru; Editing by Rashmi Aich)