888 Holdings Plc (GB:EVOK)
LSE:EVOK
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888 Holdings
(LSE:EVOK)
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Rating:51Neutral
Price Target:
47.00 p
▲(57.19% Upside)
Action:Reiterated
Date:05/30/26
The score is held back primarily by weak financial performance—especially negative equity and continued net losses—despite some resilience from positive recent free cash flow. Technicals are moderately supportive with the price above key moving averages, but valuation remains pressured due to losses and lack of dividend data.
Positive Factors
Cash generation
Consistent positive operating and free cash flow in 2023–2025, with ~£87m FCF in 2025, provides durable internal funding for operations, investment and debt reduction. Reliable cash generation supports strategic flexibility even while earnings recovery lags.
Negative Factors
Negative shareholders' equity
Material negative equity (~-£681m) reflects accumulated losses and leaves little balance‑sheet cushion. This structural weakness constrains financing options, increases vulnerability to shocks, and raises the likelihood of dilutive or costly capital actions over the coming months.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Consistent positive operating and free cash flow in 2023–2025, with ~£87m FCF in 2025, provides durable internal funding for operations, investment and debt reduction. Reliable cash generation supports strategic flexibility even while earnings recovery lags.
Read all positive factors
888 Holdings (EVOK) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£209.06M
Dividend YieldN/A
Average Volume (3M)1.06M
Price to Earnings (P/E)―
Beta (1Y)0.80
Revenue Growth1.56%
EPS Growth-185.45%
CountryUK
Employees5,903
SectorConsumer Cyclical
Sector Strength84
IndustryGambling, Resorts & Casinos
Share Statistics
EPS (TTM)-1.21
Shares Outstanding450,403,780
10 Day Avg. Volume1,580,821
30 Day Avg. Volume1,064,675
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)-0.20
Price to Sales (P/S)0.08
P/FCF Ratio1.55
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£52.00Price Target Upside73.91% Upside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)0.07
Revenue Forecast (FY)£1.84B
888 Holdings Business Overview & Revenue Model
Company Description
Evoke plc, along with its various operating entities, delivers a comprehensive suite of online betting and gaming services across the United Kingdom, Ireland, Italy, Spain, and other international jurisdictions. The company organizes its operation...
How the Company Makes Money
888 Holdings primarily makes money by earning net gaming revenue from real-money wagering and gameplay across its online casino, sports betting, poker, and bingo products. For online casino, bingo, and poker, revenue is generally generated from th...
888 Holdings Earnings Call Summary
Earnings Call Date:Aug 13, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Aug 19, 2026
Earnings Call Sentiment Positive
The earnings call reflects a positive sentiment with significant improvements in profitability, consistent revenue growth, and effective deleveraging efforts. However, there are challenges in certain markets and segments, particularly in U.K. online and retail sports.Positive Updates
Continued Revenue Growth
Achieved fourth consecutive quarter of growth with Q2 growth of 5%, driven by strong performances in international core markets and retail returning to growth.
Negative Updates
Flat Revenue in U.K. Online
U.K. online revenue was down 1% for H1 2025, with challenges including poor marketing returns for the 888 brand and a focus on profitability over volume.
Read all updates
Q2-2025 Updates
Positive
Negative
Continued Revenue Growth
Achieved fourth consecutive quarter of growth with Q2 growth of 5%, driven by strong performances in international core markets and retail returning to growth.
Read all positive updates
Company Guidance
During the call regarding H1 2025 results, the company reported several key metrics that highlight its financial progress and strategic focus. Revenue growth was a central theme, with the company experiencing a fourth consecutive quarter of revenue growth, achieving a 5% increase in Q2. Adjusted EBITDA for the first half reached GBP 166 million, marking a 44% year-over-year increase. The company also reported a significant reduction in leverage, which decreased to 5x, down from 5.7x at the end of 2024. The international segment was a standout performer, contributing over half of the group's EBITDA with a 13% revenue growth, while the UK online segment showed flat revenue but a 37% increase in EBITDA due to a focus on profitability. Additionally, retail operations returned to growth in Q2, driven by new gaming machines, despite a 2% decline for the half. Looking ahead, the company reiterated its guidance for 2025, targeting 5% to 9% revenue growth and an EBITDA margin of at least 20%, while maintaining its focus on both short-term operational improvements and long-term strategic investments.888 Holdings Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
18
Very Negative
Cash Flow
55
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.78B | 1.75B | 1.71B | 1.24B | 960.84M |
| Gross Profit | 979.00M | 1.15B | 1.14B | 798.30M | 589.86M |
| EBITDA | 330.60M | 234.40M | 289.70M | 82.50M | 120.32M |
| Net Income | -547.50M | -192.00M | -56.40M | -120.60M | 67.31M |
Balance Sheet | |||||
| Total Assets | 2.10B | 2.67B | 2.75B | 2.95B | 539.71M |
| Cash, Cash Equivalents and Short-Term Investments | 264.30M | 265.40M | 258.46M | 339.20M | 264.02M |
| Total Debt | 1.89B | 1.83B | 1.75B | 1.79B | 30.88M |
| Total Liabilities | 2.77B | 2.77B | 2.67B | 2.79B | 371.90M |
| Stockholders Equity | -680.60M | -116.40M | 79.90M | 159.20M | 167.71M |
Cash Flow | |||||
| Free Cash Flow | 86.60M | 131.10M | 81.10M | -107.00M | 102.55M |
| Operating Cash Flow | 91.00M | 226.50M | 151.40M | -30.20M | 133.13M |
| Investing Cash Flow | -115.30M | -93.70M | -21.10M | -428.90M | -30.48M |
| Financing Cash Flow | -21.30M | -103.50M | -188.60M | 588.30M | -70.26M |
888 Holdings Technical Analysis
Positive
29.90
Price Trends
38.92
Positive
33.97
Positive
35.27
Positive
Market Momentum
2.79
Negative
71.93
Negative
84.38
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:EVOK, the sentiment is Positive. The current price of 29.9 is below the 20-day moving average (MA) of 42.91, below the 50-day MA of 38.92, and below the 200-day MA of 35.27, indicating a bullish trend. The MACD of 2.79 indicates Negative momentum. The RSI at 71.93 is Negative, neither overbought nor oversold. The STOCH value of 84.38 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:EVOK.
888 Holdings Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | £83.48M | 15.46 | 15.38% | ― | 10.22% | -33.00% | |
65 Neutral | £901.96M | 0.71 | 99.57% | 163.36% | ― | ― | |
64 Neutral | £462.81M | 13.70 | 9.03% | 2.58% | 5.13% | 6.55% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
55 Neutral | £3.49B | -5.30 | -57.07% | 2.24% | 3.34% | -47.20% | |
53 Neutral | £11.24M | 30.90 | ― | ― | ― | ― | |
51 Neutral | £209.06M | -0.39 | 125.82% | ― | 1.56% | -185.45% |
* Consumer Cyclical Sector Average
GB:EVOK
888 Holdings
46.70
-10.60
-18.50%
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888 Holdings Corporate Events
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
Evoke plc awards performance-linked share incentives to top executives
Positive
Jun 12, 2026
Evoke plc has granted long-term incentive awards in the form of conditional share awards to its chief executive, Per Widerström, and chief financial officer, Sean Wilkins, under its 2026 Long Term Incentive Plan. Widerström received 2.6 ...
Regulatory Filings and Compliance
Evoke CFO Increases Stake with Share Purchase on LSE
Positive
Jun 9, 2026
Evoke plc disclosed that its chief financial officer, Sean Wilkins, has increased his personal stake in the company by purchasing 10,593 ordinary shares at 45.97p each on 8 June 2026. Following this transaction, Wilkins now holds 143,904 ordinary ...
Business Operations and StrategyStock BuybackShareholder Meetings
Evoke wins broad shareholder backing for AGM resolutions
Positive
Jun 8, 2026
Evoke plc reported that shareholders approved all 16 resolutions at its annual general meeting on 8 June 2026, including the receipt of the 2025 annual report, the directors’ remuneration report and the re-election of the entire board. Ernst...
Regulatory Filings and Compliance
Evoke plc Confirms Total Voting Rights at 450.4 Million Shares
Neutral
Jun 1, 2026
Evoke plc has confirmed that, as of 31 May 2026, its issued share capital comprises 450,403,766 ordinary shares of GBP£0.005 each, with one voting right attached to every share. This disclosure sets the official total number of voting rights ...
Business Operations and StrategyM&A Transactions
Evoke extends deadline for potential Bally’s Intralot takeover bid
Neutral
May 18, 2026
Evoke plc has extended the deadline for Bally’s Intralot S.A. to decide whether to make a firm offer for the entire issued and to be issued share capital of the company at a proposed price of 50 pence per share. The potential transaction is ...
Financial DisclosuresShareholder Meetings
Evoke plc Sets June Date for 2026 AGM and Publishes Annual Report
Neutral
May 11, 2026
Evoke plc has published its 2026 Notice of Annual General Meeting on its website and via the National Storage Mechanism, and has mailed copies to shareholders who opted for paper communications. The AGM will be held on 8 June 2026 in London, with ...
Regulatory Filings and Compliance
Evoke plc Corrects Total Voting Rights and Confirms Share Capital
Neutral
May 1, 2026
Evoke plc has corrected a previous disclosure, clarifying that its issued share capital and total voting rights as of 31 March 2026 were 450,403,766 ordinary shares, not the higher figure previously reported. As of 30 April 2026, the company confi...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Evoke boosts profits but takes hefty UK duty hit as takeover talks progress
Negative
Apr 30, 2026
Evoke reported a second consecutive year of adjusted profitable growth in 2025, with revenue up 2% to £1.78bn and adjusted EBITDA rising 14% to £356.2m, driven by stronger online gaming, tighter marketing spend and cost efficiencies, des...
Business Operations and StrategyFinancial Disclosures
Evoke Plc Pushes Back FY25 Results by One Day, Confirms Trading on Track
Neutral
Apr 28, 2026
Evoke Plc said it will publish its audited results for the year ended 31 December 2025 one day later than planned, moving the release from 29 April to 30 April 2026. The board stressed that trading remains in line with expectations and that there ...
M&A Transactions
Evoke Confirms Possible 50p-Per-Share Takeover Talks With Bally’s Intralot
Neutral
Apr 20, 2026
Evoke plc has confirmed it is in discussions with Bally’s Intralot S.A. over a possible takeover offer valuing the entire issued and to-be-issued share capital at 50 pence per share. The proposal is structured as an all-share combination wit...
Business Operations and StrategyRegulatory Filings and Compliance
Evoke plc Updates Market on Share Allotments Under Long-Term Incentive Plan
Neutral
Apr 14, 2026
Evoke plc has reported its latest six-month block listing return for shares issued under the Evoke Long Term Incentive Plan, covering the period from 14 October 2025 to 13 April 2026. During this period, 412,990 securities were allotted under the ...
Regulatory Filings and Compliance
Evoke plc Sets Total Voting Rights at 450.6 Million Shares
Neutral
Apr 1, 2026
Evoke plc has confirmed that, as of 31 March 2026, its issued share capital comprises 450,634,446 ordinary shares of GBP£0.005 each, with one vote attached to every share. This disclosure sets the official total of voting rights at 450,634,44...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.