## Evoke plc – A New Name for 888 – Marketing – iGB
888 Holdings has officially adopted a new name, Evoke plc. The announcement was made in March when the company revealed its financial performance for the 2023 fiscal year.
888’s annual financial report indicates that the company’s income reached £1.7 billion in the previous year, a 37.0% year-over-year increase. Despite this positive growth, net losses continued to climb year-on-year, although they were considerably lower than in 2022.
The name change required approval from shareholders, which was granted today (May 13) at 888’s annual general meeting (AGM). A total of 284,646,548 votes were cast in support of the proposal, with 595,372 votes opposed. Additionally, 24,741 votes were withheld.
888 will commence trading on the London Stock Exchange (LSE) under the ticker EVOK following the name change. 888 announced the official name change to Evoke on LinkedIn today, stating that Evoke signifies a new beginning.
“Today, we officially embark on a new chapter as Evoke plc,” the post stated. “Evoke embodies our new direction. A direction built upon our strengths, enabling us to progress as a multi-brand group with a unified strategy, vision, and identity.
“It also more accurately reflects our mission: to enhance players’ lives by delivering top-notch betting and gaming experiences. We are eager to share more about Evoke in the weeks and months ahead.”
At the current shareholders’ assembly, stockholders voted to re-elect numerous board members and appointed 888’s Chief Executive Officer, Per Widerström, to the board. Ernst & Young LLP and Ernst & Young Limited were also reappointed as the company’s financial examiners.
The name change is part of a broader plan for 888.
Widerström stated when the rebranding was initially declared that Evoke would be a “fresh start” opportunity for 888.
“We have a significant amount of work to accomplish. This is a business revitalization. However, we are aware of what success resembles, and we have a clear strategy to achieve it. This will be executed with a high level of concentration,” he stated.
888 emphasized that the rebranding would be part of a larger strategy aimed at enhancing profitability, known as the Value Creation Plan. The plan includes six strategic initiatives, commencing last year when Widerström was appointed as the head of the company, followed by the appointment of a strengthened executive team. The strategy was also announced alongside 888’s yearly financial results.
One of the more prominent initiatives is Operations 2.0, where Evoke will utilize artificial intelligence to enhance its daily operations.
“I am a strong supporter of AI, as long as it is used appropriately. Operations 2.0 is all about doing it the right way [implementing AI],” Widerström stated in March.
888’s rebranding follows a tumultuous year
888 agreed to change its name to Evoke plc after a turbulent period for the company. In June, investment vehicle FS Gaming, backed by former GVC (now Entain) CEO Kenny Alexander, acquired a 6.57% stake in 888.
Subsequently, FS Gaming suggested bringing in three ex-Entain executives to take charge of 888. This would put Alexander in the position of chief executive. Former Entain chairman Lee Feldman would also be named chairman of 888, and Stephen Morana would become the chief financial officer.
The UK Gambling Commission then initiated an inquiry into 888 due to an HMRC investigation into Entain’s prior operations in Turkey. This investigation concluded last November, with Entain agreeing to pay £585 million in a delayed prosecution agreement.
In August, FS Gaming revoked its voting rights pact with former Entain CEO Shay Segev. The commission declared it would not take any action against Alexander’s attempt to take over management in March.
Last month, 888Sport was also banned by the Dominican Republic, becoming one of more than 40 operators to be blacklisted as the country starts to re-regulate.
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