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Evoke Confirms £225m Takeover Bid From Bally's Intralot
The deal would value the William Hill owner at about £225.3 million as it faces about £1.8 billion in debt, analysts said.
- On Monday, Evoke confirmed it is in discussions regarding a potential takeover by Bally's Intralot, with the proposed deal valuing the UK betting group at £225.3 million.
- Evoke initiated a strategic review late last year, effectively putting itself up for sale as it grapples with escalating debts and increased costs stemming from November's betting tax hike.
- Much of the company's debt was built up when it acquired the non-US operations of William Hill, betting giant, for £2 billion in 2021; Evoke is closing retail shops to mitigate costs.
- In the 2025 budget, Chancellor Rachel Reeves raised remote gaming duty from 21 per cent to 40 per cent, effective April, with a new 25 per cent online sports betting duty beginning in 2027.
- Bally's Intralot must table a firm offer or withdraw by May 18; the company was formed last year through a tie-up between Greek lottery firm Intralot and US casino operator Bally's Corporation.
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15 Articles
Coverage Details
Total News Sources15
Leaning Left3Leaning Right1Center6Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
L 30%
C 60%
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