Evoke was the latest company to sound the alarm over market disruption this morning, lamenting the black market and increased taxation weighing on the financials of its international segment.
Sean Wilkins, Evoke’s Chief Financial Officer, told investors: “Romania continues to be affected by the combination of a weaker economy, higher taxes, and the growth of the unregulated market. We have responded by managing marketing and promotional investment carefully to protect returns.”
Wilkins said that an extra £6m has been added to its tax bill as a result of a hike in gaming tax from 21% to 30% in Romania, where there is little sign of wider regulatory stability.
A market on the edge
Evoke described Romania as its fifth core market in 2024 after acquiring Winner.ro for €10m to combine with its 888 brand.
At the time, Chief Executive Officer Per Widerström expressed optimism over the prospe..
