Evoke plc, owner of brands such as William Hill and 888, has accepted the acquisition offer submitted by Bally's Intralot S.A., in a transaction valued at £243.1 million.
The proposal states that Evoke shareholders will receive 0.537 new Intralot shares for each Evoke share, valuing each share at 52 pence. Alternatively, they can elect to receive 52 pence in cash per share, although this option will be capped at a maximum of £117.1 million.
This acceptance comes after Evoke rejected five previous proposals from Intralot, the first of which valued the company at 32 pence per share. The final offer represents a 63% premium over the initial approach and carries the unanimous recommendation of Evoke’s board of directors.
The transaction occurs against a backdrop of intense regulatory and fiscal pressure in the United Kingdom. Evoke initiated a strategic review in December following the British Government's announcement to increase taxes on online gaming—a measure that could increase its annual tax bill by between £125 million and £135 million.
Through the integration of Evoke, Bally’s Intralot will incorporate heavyweight international brands including William Hill, 888casino, 888sport, 888poker, and Mr Green, strengthening its position across regulated markets, particularly within the UK.
Intralot estimates that the transaction will generate £180 million in pre-tax synergies and capex savings by the end of the second year post-acquisition. The enlarged group is expected to achieve a pro-forma adjusted EBITDA margin of 27%, compared to the 20% recorded by Evoke in 2025.
If no Evoke shareholder chooses the cash alternative, the company's current investors will hold approximately an 11.5% stake in the combined group.
The deal already has irrevocable commitments and letters of intent representing 29.1% of Evoke's share capital. Closing is scheduled for the final quarter of 2026, subject to shareholder and relevant regulatory approvals.
18+ | Juegoseguro.es – Jugarbien.es
