888 Holdings has officially rebranded to Evoke.
The company’s name change is part of a wider plan that it published following a disappointing financial performance in 2023.
The company says its new moniker better reflects the group’s values and will unify its colleagues under one clear identity.
“Today marks the start of evoke’s exciting future. By bringing our business together under a single, unifying brand identity, evoke reflects our future-focused mindset and our commitment to bringing world-class betting and gaming experiences to our customers all over the world,” added Evoke CEO Per Widerström.
Evoke respond to poor 2023 with “value creation plan”
Widerström is currently spearheading the plan, which is a strategic framework that Evoke has adopted to “establish a clear vision of what success looks like and the strategy to get there”.
The company’s full-year accounts revealed it generated corporate revenue of £1.71 billion ($2.16 billion), up 38% year-over-year. However, on a pro forma basis, 888’s revenue results saw a 7.5% decline on the £1.85 billion ($2.34 billion) recorded in 2022. In terms of international performance, revenue rose slightly by 1.8%.
Now Widerström, and a new executive leadership team, are tasked with a “group operating model reset, removing duplication and inefficiencies while enhancing accountability” and delivering approximately $39 million in additional annual cost savings.
Alongside its rebrand, other key strategies include Evoke simplifying its reporting categories into core markets (U.K., Italy, Spain, and Denmark) and optimizing markets.
“It is incredibly exciting to announce our value creation plan, our strategy for success, our new financial targets, and our new corporate identity,” said Widerström. “We have acted with pace, decisiveness, and urgency to build a clear strategy to deliver success.
The rebrand to Evoke was approved by the group’s shareholders at its 2024 annual general meeting. It also confirmed that all its consumer-facing brands, including Willam Hill, 888casino, 888sport and 888poker, will continue to operate under their original names.
