Evoke secures majority stake in Romania's Winner

Evoke plc, the UK gambling behemoth, has bought out a controlling share in New Gambling Solutions, in an all-cash deal valued at $11.1m at the time of striking the agreement. This decision puts evoke at the helm of Winner.ro, a popular Romanian iGaming brand with solid exposure in the market, and an estimated 7% market share as a direct result of the deal

Evoke buys out Winner in Romania, merges brand with 888

This also aligns with evoke’s broader strategy to continue growing through strategic acquisitions that allow it to steadily increase its presence in promising markets. Evoke second-quarter results missed the company’s most recent financial targets, but the firm remains committed to returning to a positive financial outlook in the foreseeable future.

Evoke has also chosen to retain the option as part of the deal to acquire a 100% stake in the company and bring it fully under its umbrella. The company is also going to combine its own flagship brand, 888, with Winner to reach a strong position locally. This deal also makes Romania evoke’s fifth largest market.

Evoke has also noted that it doesn’t expect any major change to its 2024 financials, but was confident about a potential pick up in results starting from 2025. The company has been in the midst of a partial restructuring of its operations, as evoke said it would not pursue further growth in the United States and accepted to pay a termination fee.

The company has also identified several markets in which it wants to remain and grow its presence, referring to them as "core markets," and all of them in Europe. Denmark, Italy, Spain, and the United Kingdom have been set aside as the company’s main operational priorities, with Romania now potentially becoming another jurisdiction where evoke wants to pivot.

Evoke top brass optimistic about the future

It is also consistent with our M&A strategy to focus on low-capital, high-impact combinations that accelerate the delivery of our strategy," company CEO Per Widerström noted, commenting on the deal. He also hailed the market as a high-growth jurisdiction that can help the company on its mission to build a sustainable and profitable business.

"Winner has a strong leadership team and we are building on our success in the market through our highly localized approach, and competitive advantages such as our product platform, our enhanced personalization, and wide network of deposit points," he concluded.

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