After announcing the news in conjunction with its FY23 results, 888 Holdings officially changed their name to Evoke plc. This was done a few weeks ago.
The full-year result of 888 saw revenues of PS1.70bn, an increase of 37.0%. However, the net loss persisted year on year, though it was much less than 2022.
888 shareholders approved the rebrand today, 13 May at its annual general meeting. The move was approved by 284,646,548 votes to 595,372 against. A total of 24,741 ballots were also withheld.
888, once its rebranding is completed, will start trading under the London Stock Exchange’s (LSE) symbol EVOK. Evoke is a brand new start for 888, they announced today on LinkedIn.
The post read: “Today we start our new chapter officially as Evoke plc.” Evoke represents our new vision. This new direction builds on the strengths of our multi-brand company and allows it to progress as a single group, with unified strategy and vision.
It also better reflects the mission of Evoke: To make life interesting for players by providing them with top-notch betting and gaming experience. “We’re looking forward to sharing more about Evoke over the coming weeks and months.”
A number of directors were re-elected today at the AGM, and 888 CEO Per Widerstrom was elected as a Director. Ernst and Young LLP and EY Limited have also been reappointed as auditors.
The rebranding is part of a wider strategy for 888
Widerstrom stated that Evoke was a way to “reset the 888” when it first came out.
We have much work ahead of us. He said that it was a “reset” of the company. We know what success is and have a strategy in place to achieve it. The focus will be on the execution.
The rebranding was part of the larger value creation strategy, which 888 called. The value creation plan consists six strategic initiatives that began last year with Widerstrom being appointed CEO, and was followed by a stronger executive team. The strategy was laid out alongside the FY results of 888.
Evoke’s Operations 2.0 initiative is a prominent one, as it will use AI to enhance its daily operations.
Widerstrom stated in March that he was a big fan of AI when it is used correctly. As Widerstrom explained today, Operations 2.0 is about implementing AI the right way.
After a chaotic 2018, 888 is rebranding.
After a busy year, 888 has agreed to rebrand as Evoke plc. FS Gaming, an investment vehicle backed Kenny Alexander (former CEO of GVC now Entain), took a 6.57% share in 888.
FS Gaming then proposed to take over 888 with three ex-Entain executives. Alexander would then have become the CEO. Lee Feldman, former Entain chairman would become the chair of 888. Stephen Morana will become the CFO.
In the month following, the GB Gambling Commission began a review of 888, citing an investigation by HMRC into Entain’s historical Turkish operations. The investigation concluded last November, when Entain agreed to pay PS585.0m as part of a deferred prosecutor agreement.
In August, FS Gaming ended its agreement with Shay Segev – a former Entain CEO – to grant voting rights. The Commission declared that they would not take any action against 888 for Alexander’s attempt to take over management in March.
Last month, the Dominican Republic blacklisted 888Sport as part of a list that included more than forty operators. The country is now reregulating.
