Gambling company 888 Holdings set for name change to Evoke, signifying a strategic shift in its gaming operations
888 Holdings, a Gibraltar-based gaming company listed on the stock exchange since 2005, has announced a significant transformation. The company, known for operating various gaming and poker portals all bearing the name 888, is set to rebrand as Evoke. This change signifies a fresh start and a new direction, as outlined by the newly appointed CEO, Per Widerström.
A Strategic Rebranding
The strategic rationale behind this rebranding centers on unifying multiple iconic betting and gaming brands, including William Hill, 888casino, 888sport, 888poker, and Mr Green, under a consolidated corporate identity. This move aims to reflect a cohesive, transformed business strategy, capture a refreshed global market presence, and signal the company's shift towards innovation, integration, and operational efficiency.
Financial Performance
Financially, this strategy has so far supported solid growth and improved profitability. Evoke reported a robust Q2 2025 revenue increase of approximately 5% year-over-year, driven primarily by a 6% growth in online operations across key international markets and a recovery in retail business aided by new gaming terminals. The company maintains optimistic full-year 2025 targets with expected revenue growth of 5-9% and an adjusted EBITDA margin of at least 20%.
Implications for Future Growth
The rebranding to Evoke brings several implications for future growth. Combining leading brands allows cross-leveraging customer bases and delivering a more unified experience. The company benefits from an operational reset that simultaneously boosts revenue, profitability, and reduces debt. International expansion, through recent acquisitions and partnerships, enhances market breadth. Technology adoption, driven by increased automation and AI utilization, drives efficiency and customer engagement.
Leadership and Stock Performance
Per Widerström, the CEO of 888 Holdings since October 2023, is working on a new value creation plan to underpin the company's long-term success strategy. The stock of 888 Holdings has risen by around 5% in recent days and by almost 70% over the last 12 months, reflecting the shareholders' relative euphoria about the future of the gaming company.
Despite facing a challenging business year in 2023, the company's revenue increased from £1.24 billion in 2022 to £1.7 billion, largely due to the acquisition of the William Hill brand. However, the adjusted operating profit fell by 25% to £48.1 million in 2023 compared to the previous year, and the actual net loss was £56.4 million, an improvement from the previous year but still a negative sign.
Conclusion
The rebranding to Evoke represents a strategic move to signal a new phase of growth and competitiveness that is already reflected in its improving financial performance and measurable operational progress. As the company moves forward under its new identity, it looks poised to continue its journey towards innovation, integration, and operational efficiency, with a renewed focus on customer experience and global expansion.
What is the new corporate identity resulting from the rebranding of 888 Holdings?
With the rebranding to Evoke, the company aims to capture a refreshed global market presence, signaling a shift towards innovation, integration, and operational efficiency in the finance, business, casino-and-gambling sectors.
