Evoke PLC agrees to a £243.1 million takeover by Bally’s Intralot, escaping debt pressures and UK gambling tax hikes.
Evoke PLC will be acquired by Athens-listed Bally’s Intralot in a £243.1 million all-stock transaction, valuing the company at 52p per share. The deal offers shareholders 0.537 new Intralot shares per Evoke share, with a partial cash alternative available.
Evoke, owner of William Hill and 888, faced mounting debt and a UK government-mandated doubling of remote gambling taxes. The company had rejected five prior non-binding offers, starting at 32p per share, before accepting the current terms.
The enlarged entity will retain its primary listing on Euronext Athens. The deal follows months of negotiations, with Bally’s Intralot, backed by US private equity firm Providence, pursuing Evoke since April.