UK-based gambling operator 888 Holdings has had a difficult couple of years, including record multimillion-dollar regulatory penalties, a failed US venture, an ousted CEO, and plummeting shares. Now, the company is hoping that a rebrand could signal brighter days ahead.
a new name that it believes will better reflect its multi-brand approach
888 has officially rebranded to evoke plc. It’s a move that the company confirmed in March, and a new name that it believes will better reflect its multi-brand approach going forward, given that it also runs William Hill and Mr. Green. The company will trade under the symbol EVOK on the London Stock Exchange.
The firm shared the news on LinkedIn on Monday, asserting that it marked the “next chapter” for the operator:
888 announced the decision to rebrand shortly after confirming its full-year results for 2023. This showed a net loss of £56.4m ($71m), an improvement from £120.6m ($152m) in the previous year. Revenue also increased 38% to £1.7bn ($2.2bn).
The company’s share price has dropped around 3% over the past five days. For the past year to date it has dropped around 8%. It’s share price hit a peak of £456.26 ($571.57) in September 2021 but has now plummeted 81% from that point. There are many factors to blame for this decline.