Evoke plc (formerly known as 888 Holdings) published the annual report for its subsidiary William Hill this week. The report covered the year ending Dec. 31, 2023 and showed that net revenue was down slightly year-over-year to $1.57 billion (£1.23bn) compared to the $1.58 billion (£1.24bn) reported last year.
The report breaks down the company’s performance across three segments, including retail (UK betting shops), UK online, and international, which covers all non-UK customer activity. Retail led with the highest net revenue of $688.9 million (£539.8m), followed by UK online with $639.4 million (£501.0m), and international, reporting $237 million in revenue (£185.7m).
Despite a 3% reduction in the number of William Hill retail betting shops, retail revenue was up 5% compared to the previous year due to enhanced product offerings that came from investments in self-service betting terminals (SSBTs) and gaming cabinets.
However, the online business experienced a slight 2% decline, which the company attributed to the implementation of safer gambling measures and a more refined marketing strategy. International revenue dropped by 12% following compliance changes in the dotcom markets.
The company reported EBITDA of $286.4 million (£224.4m), up around 4.5% from the $274.1 million (£214.8m) reported in 2022. In addition, operating profit stands at $145.6 million (£114.1m), up approximately 468% from a loss of $39.6 million (£31m) last year.
Established in 1934, William Hill is one of the UK’s longest-standing betting operators. The company employs more than 12,000 people, of which 8,000 are based in the UK, and operates more than 1,400 land-based betting shops. In September 2020, William Hill was bought by Caesars Entertainment, which then sold its non-U.S. business assets to evoke in July 2022.
