British bookmaker Evoke agreed to be acquired by Greek lottery and gaming firm Bally’s Intralot on Friday in an all-share deal valuing it at about £243 million ($326 million), sending its shares up 14%.
Intralot’s offer values the William Hill and 888 casino owner at 52 pence per share, a 33.8% premium to the stock’s closing price before Evoke confirmed discussions with the Greek lottery and gaming firm.
Shares in the company, whose board unanimously backed the deal, rose as much as 14% to 45.8 pence in early trade to levels last seen in October 2025.
The debt-laden London-listed company launched a strategic review in December after warning that UK tax hikes on gambling in November would lead to mounting costs as it withdrew its medium-term targets. Earlier this year, it announced plans to shut around 200 betting shops across the United Kingdom.
Previously known as 888 Holdings, Evoke’s £2.2-billion acquisition of William Hill UK from Caesars Entertainment in 2022 saddled it with high debt that stood at about £1.86 billion at the end of last year.
Additional terms include an all-share structure and a partial cash alternative capped at about £117 million.
Private lenders led by TPG Credit, alongside Oaktree and OHA, have committed about £889 million to refinance Evoke’s existing debt and support the deal.
Source: Reuters.com