Evoke Acquires New Gambling Solutions, Operator of Winner.ro

Evoke, formerly known as 888 Holdings and owner of brands such as William Hill, 888, and Mr Green, is a Gibraltar-based betting and gaming operator. The company will inject its Romanian business and an additional €10 million to acquire a 51% stake in the expanded Romanian business, merging 888.ro with Winner to create the fourth largest group in the Romanian market, with a combined market share of approximately 7%.

"Based on an earn-out calculation for 2026, Evoke will own between 51% and 57% of the business, with an option to increase ownership to 100% from the third anniversary of the completion," said Evoke.

Winner.ro is the seventh largest online betting and gaming operator in Romania. The Romanian betting market is expected to grow at a compound annual growth rate of 13% from 2023 to 2026, with a market value of approximately €1.1 billion in net revenues in 2023. Evoke noted that the attractive market dynamics are creating increasing barriers to entry due to strict local regulations and high levels of localization.

Evoke expects the acquisition to close in the third quarter of 2024 and anticipates it will boost its profits in 2025 and subsequent years. However, the company clarified that the transaction will not alter its recently announced forecasts for 2024.

Winner’s CEO, Nicklas Zajdel, commented: “This transaction is incredibly exciting as it combines our prominent local brand with one of the strongest international casino brands in the world. Romania is a high-growth market, and this merger sets us on a path to a sustainable, profitable, and market-leading position. Winner has a strong leadership team, and we are leveraging our market success through our highly localized approach and competitive advantages such as our product platform, increased personalization, and extensive deposit point network.”

Evoke's shares rose by 3%, reaching 71.15 pence each, on Friday morning in London.