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888 Holdings (GB:EVOK)
:EVOK

888 Holdings (EVOK) AI Stock Analysis

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888 Holdings

(LSE:EVOK)

Rating:49Neutral
Price Target:
54.00p
▲(1.12%Upside)
The overall score reflects the company's strong revenue growth but is heavily impacted by ongoing financial challenges, including high leverage and negative profitability. The neutral technical indicators and negative valuation metrics further weigh on the score, despite some positive momentum from strategic initiatives and insider confidence.
Positive Factors
Financial Performance
There is comfort with full-year revenue and EBITDA guidance, which is ahead of current consensus expectations.
Market Growth
International revenues increased by 14%.
Negative Factors
Financial Concerns
The leverage target has been pushed out by one year, signaling potential financial concerns.
Interest Costs
Higher interest costs are expected to lower EPS estimates by 18% for the fiscal year.
Operational Performance
The number of active players decreased by 21%.

888 Holdings (EVOK) vs. iShares MSCI United Kingdom ETF (EWC)

888 Holdings Business Overview & Revenue Model

Company DescriptionEvoke plc, together with its subsidiaries, provides online betting and gaming products and solutions in the United Kingdom, Ireland Italy, Spain, and internationally. The company operates through Retail, UK Online, and International segments. It engages in the operation of gaming machines; and sports betting, casino, poker, and other gaming products, as well as offers telephone betting services. The company owns and operates its business through William Hill, 888casino, 888poker, 888sport, Mr Green, William Hill Vegas, SI Casino, and SI Sportsbook brands. The company was formerly known as 888 Holdings plc and changed its name to Evoke plc in May 2024. Evoke plc was founded in 1997 and is headquartered in Gibraltar, Gibraltar.
How the Company Makes Money888 Holdings generates revenue through various channels primarily focused on its B2C operations, which include online casino games, sports betting, poker, and bingo. The company earns money by taking a percentage of the stakes placed by players in these games, often referred to as the 'house edge' or commission. Additionally, 888 Holdings has a B2B segment where it licenses its proprietary technology and gaming content to other operators, providing them with the necessary tools to run their own online gaming platforms. Key revenue streams include player deposits, in-game purchases, and subscription fees for premium services. The company also benefits from strategic partnerships and acquisitions that enhance its market presence and expand its offering to new regions and customer segments.

888 Holdings Earnings Call Summary

Earnings Call Date:Mar 26, 2025
(Q4-2024)
|
% Change Since: -25.21%|
Next Earnings Date:Aug 13, 2025
Earnings Call Sentiment Neutral
The earnings call presented a mix of positive and negative aspects. The company reported exceeding EBITDA expectations and returning to revenue growth with strong performance in core markets and successful cost optimization efforts. However, challenges included a decline in retail EBITDA, postponed leverage targets, and increased net debt.
Q4-2024 Updates
Positive Updates
Exceeded EBITDA Expectations
Adjusted EBITDA was £2 million ahead of the top end of the previous update for 2024.
Revenue Growth Achievement
Returned to growth for the first time in three years with full year revenue growth of 3%, and 8% growth in the second half of 2024.
Core Markets Performance
90% of revenue now comes from core markets with 96% from regulated and taxed markets.
International Business Operating Leverage
International business delivered 7% revenue growth and a 31% increase in adjusted EBITDA.
Cost Optimization Achievements
Successfully executed a £30 million cost optimization program and identified £15 to £25 million further savings for 2025.
Retail Gaming Machine Rollout
5,000 new gaming machines rolled out in Italy before Cheltenham, showing positive early signs of growth.
William Hill Brand Relaunch
Relaunched Mr Green and began digital work on 888, with new visual identity for William Hill.
Negative Updates
Retail EBITDA Decline
Retail sector saw a decline in EBITDA by 33% due to high fixed costs.
Postponed Leverage Target
Net leverage target of below 3.5x has been postponed to 2027 due to additional investments and costs.
Q1 2025 Revenue Growth Challenges
Expected revenue growth slightly below 5% to 9% target due to factors such as racing cancellations and one less day in the quarter.
Increased Net Debt
Net debt increased by £30 million to £1.79 billion, with cash burn driven by exceptional costs and first-half performance.
Company Guidance
In the recent call, Evoke's leadership highlighted several key metrics and achievements, reflecting their strategic progress and financial performance. For the fiscal year 2024, adjusted EBITDA surpassed expectations by £2 million, reaching £312 million, marking a 4% increase. Revenue growth was reported at 3% for the full year, with a significant 8% increase in the second half. Notably, their online markets saw a 12% year-over-year growth. The company's adjusted EBITDA margin for the second half stood at 22%, with expectations of a 20% margin for 2025. They also successfully executed cost-saving measures, including a £15 million reduction in the second half of 2024, and anticipate further savings of £15 million to £25 million in 2025. Despite a £30 million increase in net debt, driven by the winter acquisition and delayed asset sales, the company aims to achieve a net leverage below 3.5x by 2027. The strategic focus remains on their five core markets, which contribute to 90% of their revenue, supporting a sustainable revenue growth target of 5% to 9%.

888 Holdings Financial Statement Overview

Summary
Income Statement
Balance Sheet
Cash Flow
Breakdown
TTMDec 2023Dec 2022Dec 2021Dec 2020Dec 2019
Income StatementTotal Revenue
2.11B1.71B1.24B712.30M662.61M439.20M
Gross Profit
1.25B912.60M674.10M437.29M438.88M301.32M
EBIT
56.10M84.20M88.10M80.78M86.64M42.72M
EBITDA
215.45M288.80M83.00M107.18M49.21M63.18M
Net Income Common Stockholders
-179.05M-56.40M-120.50M49.90M8.29M32.61M
Balance SheetCash, Cash Equivalents and Short-Term Investments
278.80M256.20M339.20M195.73M141.34M75.11M
Total Assets
2.75B2.75B2.96B398.69M356.05M326.93M
Total Debt
1.75B1.75B1.79B22.81M24.65M39.63M
Net Debt
1.47B1.49B1.45B-172.91M-116.68M-35.48M
Total Liabilities
2.67B2.67B2.80B274.72M246.02M202.60M
Stockholders Equity
79.90M79.90M159.20M123.89M110.03M124.33M
Cash FlowFree Cash Flow
-48.25M81.10M-180.90M74.17M113.31M45.39M
Operating Cash Flow
24.25M151.40M-104.10M96.42M139.04M63.26M
Investing Cash Flow
-79.05M-21.10M-430.60M-22.25M-24.17M-65.37M
Financing Cash Flow
-49.05M-188.60M663.90M-50.61M-45.15M-23.75M

888 Holdings Technical Analysis

Technical Analysis Sentiment
Negative
Last Price53.40
Price Trends
50DMA
50.99
Positive
100DMA
59.63
Negative
200DMA
60.32
Negative
Market Momentum
MACD
-0.04
Positive
RSI
48.76
Neutral
STOCH
37.80
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:EVOK, the sentiment is Negative. The current price of 53.4 is below the 20-day moving average (MA) of 54.64, above the 50-day MA of 50.99, and below the 200-day MA of 60.32, indicating a neutral trend. The MACD of -0.04 indicates Positive momentum. The RSI at 48.76 is Neutral, neither overbought nor oversold. The STOCH value of 37.80 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:EVOK.

888 Holdings Peers Comparison

Overall Rating
UnderperformOutperform
Sector (62)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
GBGMR
79
Outperform
£136.75M15.5730.30%21.54%48.51%
74
Outperform
£990.25M10.256.42%3.75%
GBRNK
72
Outperform
£582.73M18.119.21%1.04%9.68%126.73%
62
Neutral
$6.82B11.052.80%4.32%2.67%-24.92%
49
Neutral
£239.29M-379.34%2.55%-239.10%
GBB90
£10.36M
GBENT
57
Neutral
£4.78B-23.74%2.48%6.70%53.23%
* Consumer Cyclical Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
GB:EVOK
888 Holdings
53.40
-29.30
-35.43%
GB:GMR
Gaming Realms
46.70
7.40
18.83%
GB:RNK
Rank Group plc
124.40
54.68
78.43%
GB:B90
B90 Holdings
2.35
-1.05
-30.88%
GB:ENT
Entain plc
751.40
101.88
15.69%
GB:PTEC
Playtech
325.00
144.76
80.32%

888 Holdings Corporate Events

Regulatory Filings and Compliance
Evoke PLC Announces Total Voting Rights
Neutral
Jun 2, 2025

Evoke PLC has announced its total voting rights in accordance with the FCA’s Disclosure and Transparency Rules. As of May 31, 2025, the company has 449,835,316 ordinary shares, each with one vote, making the total number of voting rights 449,835,316. This information is crucial for shareholders to determine their notification obligations regarding their interests in the company.

The most recent analyst rating on (GB:EVOK) stock is a Buy with a £74.00 price target. To see the full list of analyst forecasts on 888 Holdings stock, see the GB:EVOK Stock Forecast page.

Shareholder MeetingsFinancial Disclosures
Evoke PLC Reports Successful AGM with Revenue Growth
Positive
May 28, 2025

Evoke PLC, a company listed on the London Stock Exchange, announced that all resolutions were passed at its Annual General Meeting held on 28 May 2025. The company reported a year-to-date revenue growth of approximately 5% and expressed confidence in its plans for the remainder of the year. The AGM saw a 53% turnout, with significant support for most resolutions, although around 20% of votes were against two specific resolutions related to equity securities. The board plans to engage with shareholders to address these concerns and will publish a detailed outcome of this engagement within six months.

The most recent analyst rating on (GB:EVOK) stock is a Buy with a £74.00 price target. To see the full list of analyst forecasts on 888 Holdings stock, see the GB:EVOK Stock Forecast page.

Executive/Board ChangesBusiness Operations and Strategy
Evoke PLC Forms Technology Committee to Strengthen Strategic Oversight
Positive
May 28, 2025

Evoke PLC has announced the formation of a new Technology Committee within its Board, chaired by Independent Non-Executive Director Susan Standiford. This committee aims to oversee the company’s major technology investments and initiatives, ensuring they align with business strategy and risk management. The establishment of this committee is expected to enhance governance and strategic development, providing transparency and insight into technology trends that could shape Evoke’s long-term competitive advantage.

The most recent analyst rating on (GB:EVOK) stock is a Buy with a £74.00 price target. To see the full list of analyst forecasts on 888 Holdings stock, see the GB:EVOK Stock Forecast page.

Executive/Board Changes
Evoke PLC Announces Executive Bonus Share Purchase
Neutral
May 27, 2025

Evoke PLC has announced the purchase of annual bonus shares for its CEO, Per Widerström, and CFO, Sean Wilkins, in accordance with its remuneration policy. The shares were bought at a price of 54p each, with Widerström acquiring 68,958 shares and Wilkins 31,659 shares. This transaction reflects the company’s commitment to aligning executive compensation with shareholder interests, as the shares are subject to a holding period until the second anniversary of the purchase date.

The most recent analyst rating on (GB:EVOK) stock is a Buy with a £74.00 price target. To see the full list of analyst forecasts on 888 Holdings stock, see the GB:EVOK Stock Forecast page.

Regulatory Filings and Compliance
Evoke PLC Announces Total Voting Rights Update
Neutral
May 1, 2025

Evoke PLC, a company with a focus on its issued share capital and voting rights, has announced that as of April 30, 2025, its total issued share capital consists of 449,835,316 Ordinary shares, each with one voting right. This total number of voting rights is crucial for shareholders as it serves as the denominator for calculating their interests or changes in interests under the FCA’s Disclosure and Transparency Rules.

Other
Evoke PLC CFO Increases Stake with Share Purchase
Positive
Apr 30, 2025

Evoke PLC announced a significant transaction involving its Chief Financial Officer, Sean Wilkins, who purchased 101,652 ordinary shares of the company at an average price of 49p each. This move indicates a strong vote of confidence in the company’s prospects by a key executive, potentially impacting investor perceptions and the company’s market positioning.

Shareholder Meetings
Evoke PLC Publishes 2025 AGM Notice
Neutral
Apr 25, 2025

Evoke PLC has announced the publication of its Notice of Annual General Meeting (AGM) for 2025, in line with the FCA’s Disclosure and Transparency Rules. The AGM will take place on May 28, 2025, at Hudson Sandler LLP’s office in London, with an option for shareholders to attend virtually via the Investor Meet Company platform. Shareholders are encouraged to submit questions and vote via proxy forms, as online voting will not be available.

Business Operations and StrategyFinancial Disclosures
Evoke plc Reports Q1 2025 Revenue Growth and Strategic Advancements
Positive
Apr 25, 2025

Evoke plc reported a 4% year-to-date revenue growth in its Q1 2025 trading update, with a 1% increase in quarterly revenue and significantly higher Adjusted EBITDA compared to the previous year. The company is focusing on sustainable and profitable growth, with strategic initiatives such as the rollout of new gaming cabinets and platform migrations across international markets. Despite challenges in the UK&I Online and Retail segments, Evoke remains confident in its market position and growth potential, driven by strong international performance and improved customer management tools.

Business Operations and StrategyRegulatory Filings and Compliance
Evoke PLC Announces Change in Major Holdings
Neutral
Apr 22, 2025

Evoke PLC, a non-UK issuer, has announced a change in its major holdings due to an acquisition or disposal of financial instruments by Helikon Investments Limited, a London-based investment firm. The notification indicates that Helikon’s voting rights through financial instruments have decreased from 5.4864% to 4.9757%, with a total of 22,382,491 voting rights held in Evoke PLC. This change reflects a strategic adjustment in Helikon’s investment in Evoke, potentially impacting the company’s shareholder dynamics and market perception.

Business Operations and Strategy
Parvus Asset Management Transfers Investment Management to Jersey
Neutral
Apr 2, 2025

Parvus Asset Management Europe Limited has transferred its entire investment management activities to Parvus Asset Management Jersey Limited. This change, effective from March 31, 2025, has resulted in Parvus Asset Management Jersey Limited holding a 9.911377% voting right in Evoke PLC, indicating a significant shift in the management of investment activities and potential implications for stakeholders.

Business Operations and Strategy
Evoke PLC Announces Transfer of Investment Management Activities
Neutral
Apr 2, 2025

Evoke PLC has announced a significant change in its investment management operations. Parvus Asset Management Europe Limited has transferred its entire investment management activity to Parvus Asset Management Jersey Limited as of March 31, 2025. This transfer has resulted in a change in the voting rights previously held by Parvus Asset Management Europe Limited, which now stands at 0% from a previous position of 9.94%. This move could impact the company’s operational dynamics and its stakeholders, as it reflects a strategic shift in the management of its investment activities.

Financial DisclosuresRegulatory Filings and Compliance
Evoke Plc Releases 2024 Annual Report
Neutral
Apr 2, 2025

Evoke Plc has published its Annual Report for the year ending December 31, 2024, which is now available on their website and will soon be accessible via the UK National Storage Mechanism. This publication aligns with UK Listing Rules and Financial Conduct Authority’s Disclosure Guidance, ensuring transparency and regulatory compliance. The report’s availability is expected to impact stakeholders by providing insights into the company’s financial performance and strategic direction.

Other
Evoke PLC Chairman Increases Stake with Major Share Purchase
Positive
Apr 1, 2025

Evoke PLC announced a significant transaction involving its Non-Executive Chairman, Jon Mendelsohn, who purchased 200,000 ordinary shares at an average price of 48.3p each. This purchase increases his total shareholding to 700,000 shares, reflecting a vote of confidence in the company’s future prospects. The transaction was conducted on the London Stock Exchange, potentially signaling positive sentiment and stability within the company’s leadership.

Regulatory Filings and Compliance
Evoke PLC Announces Total Voting Rights
Neutral
Apr 1, 2025

Evoke PLC has announced its total voting rights in accordance with the FCA’s Disclosure and Transparency Rules. As of March 31, 2025, the company has an issued share capital of 449,835,316 Ordinary GBP£0.005 shares, each with one voting right, totaling 449,835,316 voting rights. This information is crucial for shareholders to determine their notification requirements regarding their interests in the company.

Executive/Board ChangesBusiness Operations and Strategy
Evoke PLC Grants LTIP Awards to Top Executives
Positive
Mar 31, 2025

Evoke PLC has announced the granting of awards under its 2025 Long Term Incentive Plan (LTIP) to its CEO, Per Widerström, and CFO, Sean Wilkins. The awards, which involve a significant number of ordinary shares, are contingent upon achieving specific financial performance metrics over a three-year period, followed by a two-year holding period. This move is part of Evoke’s strategy to align executive incentives with shareholder value creation and could impact the company’s market positioning by potentially enhancing executive focus on long-term growth.

M&A TransactionsBusiness Operations and StrategyFinancial Disclosures
Evoke PLC Returns to Growth with Strong FY2024 Performance
Positive
Mar 26, 2025

Evoke PLC reported its FY2024 financial results, showing a return to growth with a 3% increase in revenue and a 4% rise in adjusted EBITDA, despite a challenging first half of the year. The company underwent a significant transformation, enhancing its operational efficiency and cost control, which led to improved profitability in the second half. Strategic initiatives included the sale of its US B2C business and the acquisition of Winner.ro in Romania, aligning with its focus on sustainable growth in attractive markets. The company also made progress in deleveraging and aims to achieve further cost savings in FY2025, maintaining its revenue growth and EBITDA margin targets.

Business Operations and StrategyRegulatory Filings and Compliance
Evoke PLC Announces Change in Major Shareholdings
Neutral
Mar 25, 2025

Evoke PLC, a company involved in the financial sector, has reported a change in its major holdings, with Artemis Investment Management LLP now holding a 12.211299% stake in the company. This change in holdings, which includes both direct voting rights and financial instruments, signifies a notable shift in the company’s shareholder structure, potentially impacting its strategic decisions and market positioning.

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.