Evoke takeover talks by Bally’s Intralot confirm pressure on gambling group finances
Evoke confirms takeover discussions with Bally’s Intralot, reflecting financial strain within the gambling group.Summary
Evoke has confirmed it is in discussions with Bally’s Intralot S.A. regarding a potential takeover, valued at 50 pence a share. This news follows market speculation about the debt-laden betting group, which owns William Hill and 888, and comes amid tax pressures, store closures, and concerns about leverage. Evoke’s board is evaluating the offer with financial advisors, and Bally’s Intralot has until May 18th to make a firm offer. The potential acquisition arrives after Evoke initiated a strategic review to maximize shareholder value, prompted by unfavorable UK tax changes impacting the regulated market. Bally’s, formed through a merger with Intralot, has been expanding its European presence and digital footprint in the UK.
(Source：Readwrite)