Online gambling operator 888 Holdings, owner of William Hill and Mr Green, has released its full year report for 2023 and announced that it will rebrand to become ‘Evoke plc’ to reflect its multi-brand model.

According to the announcement, the company reported a 41% jump in annual adjusted core profit to £308.3 million pounds ($389.94 million/€360.1 million ) for the year 2023. The year also saw a 38% jump in revenues to £1.7 billion ($2.14 billion/€1.98 billion) in 2023.

The rebranding to Evoke plc comes almost two years after the company bought William Hill’s non-US business from Caesars Entertainment in a £2.05 billion ($2.68/€2.45 billion) deal.

2023 Key Highlights

• Revenue – £1.7 billion ($2.14 billion/€1.98 billion), up by 38%
• Adjusted EBITDA – £308.3 million ($389.94 million/€360.1 million), up by 41%
• Adjusted profit after tax – £48.1 million ($60.7 million/€56 million), down by 25%
• Retail revenue – £535 million ($675.6 million/€623.9 million), up by 109.4%
• UK & I Online revenue – £658.5 million ($831.5 million/€767.9 million), up by 44.6%
• International revenue – £517.4 million ($653.3 million/€603.3 million), up by 1.8%

Per Widerström, CEO of 888, commented:

“It is incredibly exciting to announce our Value Creation Plan, our strategy for success, our new financial targets, and our new corporate identity. Today marks the beginning of an exciting new dawn for this business.

Having joined the company in October 2023 my conviction in the significant opportunity for the Group is stronger than ever. We have acted with pace, decisiveness and urgency to build a clear strategy to deliver success. These actions include significantly strengthening our executive leadership team and developing a new strategic framework and Value Creation Plan.

I firmly believe that the Group now has all the key ingredients for long-term success: leading positions in growing markets with high and rising barriers to entry; powerful proprietary technology; a top-class management team; and some of the strongest betting and gaming brands in the world.

We are now clear on what success looks like, we have the team and capabilities to deliver, and I am confident that the execution of our plan will deliver a high return on equity from sustainable profitable growth, enhanced by deleveraging.”

https://gamblingindustrynews.com/news/business/888-revenues-fy-2023/