The company, which changed its name from 888 Holdings to Evoke earlier this year, posted losses of £45.2 million for the same period previous year, which is when the decline occurred.
In addition, earnings before interest and taxes fell by 67%, from £130.8 million in the first half of 2023 to £43.8 million in January and June of this year.
Per Widerstrom, the CEO of Evoke, called the outcomes “disappointing and not acceptable” on a conference call with investors.
He did say: “We understand exactly what went wrong and we have taken corrective actions to address the problems.”
Falling behind competitors and “challenging conditions on the high street” are the two main reasons given by the gaming behemoth for the slump.
Sean Wilkins, the chief financial officer, added that the returns on marketing investments had fallen short of expectations.
The UK had a particularly noticeable year-over-year reduction, with its retail division’s revenue falling 8% despite a 1% increase in online sales there.
The total income for the six months ending at the end of June decreased by 2% to £862 million.
