Evoke extends deadline for possible acquisition offer from Bally’s
Evoke says “constructive discussions” are ongoing.
UK.- The London-listed gambling operator Evoke has granted Bally’s Intralot additional time to decide on a possible acquisition offer. The initial deadline for deal talks expired on Monday (May 18), but Evoke said that “constructive discussions” remain ongoing, leading it to push the deadline back to June 8 at 5pm UK time.
Evoke first acknowledged on April 20 that it was in negotiations with Bally’s Intralot regarding a potential takeover valuing Evoke’s distressed shares at £0.50 a piece. The proposal under consideration could involve an all-share transaction with a partial cash alternative.
Evoke said it may agree to further extensions if necessary, while Bally’s Intralot retains the right to adjust the terms of any eventual offer.
Evoke, formerly named 888 Holdings, has been facing financial challenges since its acquisition of William Hill’s European assets from the US casino giant Caesars. It began a strategic review in December, exploring both partial and full sale options after being hit by the announcement of the rise in British Remote Gaming Duty, which was upped from 21 to 40 per cent from April 1 of this year.
The talks with Bally’s Intralot were revealed shortly after Evoke announced the closure of 200 William Hill shops across the UK. However, despite Evoke’s 2025 post-tax loss of £541m and its sizeable debt load, Bally’s Intralot sees it as a potential opportunity for synergies. Bally’s already has a presence in Evoke’s home market having launched a Bally’s-branded online casino in the UK back in 2023. If completed, the acquisition of Evoke would give it three major brands – 888casino, MrGreen and William Hill.
