evoke Plc, the parent company of prominent betting and gaming brands such as William Hill, 888, and Mr Green, reports a return to online revenue growth in Q2, though it fell short of projections, leading to adjusted expectations for FY24.

UK&I online: returned to growth in H1 driven by improved product and promotions, with gaming +6% in Q2. Approximately £20m behind EBITDA plans due to lower than expected returns from planned marketing overspend, particularly Cheltenham, and revenue improvement slightly lagging plans

UK Retail: -8% with challenging conditions on the high street and tough comparatives, as well as our customer offering falling behind competition. EBITDA approximately £10m behind plan given fixed cost base and negative operating leverage

International: Q2 +4% in constant currency with double digit growth in core markets offset by reduced revenues from optimise markets as we focus on cash flow generation, including exiting US B2CAdjusted EBITDA. Adjusted EBITDA Margin for H1 expected to be c.13-14% This is c.£35-40m behind our original plan, driven by the revenue miss vs expectations, and the timing of cost saves

Expectations for H2 2024 and 2025 onwards unchanged, with business momentum supporting significantly increased profitability.

Despite this, the company remains confident in its strategic progress and operational improvements, forecasting stronger profitability and revenue growth in H2 2024, in line with their mid-term guidance.

CEO Per Widerström emphasizes the transformational changes underway to enhance operational efficiency and drive long-term profitable growth, with unchanged plans for FY25 and beyond.