Bally’s Intralot Confirms £243 Million Evoke Takeover

^{Bally’s Intralot has agreed to a £243 million takeover of Evoke, including its biggest assets, William Hill and 888. (Image: Pexels)}

By Daniel Smyth

A potential deal between the two companies was first announced in April 2026 and widely reported in May. Although negotiations took longer than expected, confirmation of the deal came on June 5, giving new hope to two long-serving UK gambling brands.

In a statement released by Bally’s Intralot, the company confirmed that it’s committed to an “all-share acquisition” of Evoke.

The statement also includes details of a cash alternative offer worth up to £117million, should shareholders vote for it. If they don’t, the all-share takeover is expected to be completed in the final quarter of 2026 or the first quarter of 2027.

Evoke investors will receive 0.537 shares in the newly merged company for every share they currently hold. This equates to a value of 52p per share, making the deal worth £243 million.

Commenting on the takeover, Sokratis Kokkalis, Chairman of the BoD of Bally’s Intralot, said it marks the start of a “new chapter” and the chance to become a “very strong” player in the global market.

Money and resources come at the right time

Evoke’s chairman, Mark Summerfield, echoed those sentiments, adding that the deal was made, in part, to help overcome regulatory and financial constraints in the UK market .

“We have been resolutely focused on how best to maximise value for our shareholders in light of the significant UK duty changes and the constraints posed by the Evoke Group's existing capital structure,” Summerfield said in a June 5 statement.

He went on to say that an injection of capital and the group’s ability to “scale” will help Evoke’s assets, including William Hill and 888, grow.

Bullish sentiment as Evoke enters new era

Evoke shares increased 12% to 45p following the announcement, but remain down 17% year-on-year. Evoke’s bearish run, as noted by Summerfield, is partly due to regulatory changes in the UK.

Pre-empting the April 2026 rollout of Remote Gaming Duty (RGD), Evoke announced a strategic review in December. To counter RGD increasing from 21% to 40%, Evoke announced the closure of almost 200 William Hill betting shops.

It may be too late to save many of those shops, but previous comments by Bally’s Intralot CEO, Robeson Reeves, suggest that there may not be any more in the near future. Speaking during a conference call in May, Reeves said it’s “important to have a presence in retail” because online casinos go hand-in-hand with their land-based counterparts.

Evoke’s direction of travel will only be clear when the takeover completes in the coming months. There is, however, hope among investors that increased liquidity may, for now, allow Bally’s Intralot to keep long-serving UK brands like William Hill afloat in an increasingly difficult market.