Evoke Gives Bally’s Intralot More Time to Firm Up £225 Million Takeover

^{Evoke, the owner of William Hill, has extended takeover talks with Bally’s Intralot. (Image: Pexels)}

By Daniel Smyth

Bally’s first floated a £225m takeover bid for Evoke on 20 April 2026. Bally’s Intralot was given until May 19 to formalise its speculative offer, which, despite being a tight deadline, was 18 days after Evoke planned to close almost 200 William Hill betting shops in the UK.

Constructive conversations keep acquisition hopes alive

In a statement released just one day before the original deadline, Evoke confirmed that Bally’s Intralot now has until June 8 to either confirm its offer or withdraw from discussions.

Writing on behalf of the company, Fredrik Ekdal said that ‘constructive discussions are continuing between the parties”. The “expected” proposal being discussed will see Bally’s Intralot take control of Evoke’s assets through an “all-share combination” deal with a “partial cash alternative’.

As previously reported by Casinos.com, that amounts to an offer worth around £225m. The May 18 press release also states, on behalf of Evoke’s CEO, Per Widerström, that the deadline can be extended again. It’s important to note that no communications so far provide any certainty that an offer will be made or, if an offer is made, what the terms will be.

“Bally's Intralot has confirmed that any firm offer, if made, would be subject to customary conditions and approvals and that it reserves the right to vary the terms of any such offer, including the price, the form and mix of consideration and the structure of the transaction”, reads the press release.

 

Takeover bid comes at testing time for Evoke

Bally’s Intralot has been the frontrunner to acquire Evoke’s assets since March. At the time, British betting company Betfred was also in the mix. However, of the two, only Bally’s Intralot put forward a tentative offer of 50p per share.

The offer is based on Evoke’s history in the UK with brands such as William Hill and 888 Casino, as well as its current financial state. Evoke published its 2025 full-year financial report on 30 April 30 2026.

As noted by Evoke’s Chair, Mark Summerfield, the company “delivered improved underlying profitability and operational progress”. However, while the company as a whole achieved 2% growth in 2025, revenue in the UK and Ireland dropped 3%.

That problem, according to Summerfield, will be compounded over the next 12 months and beyond due to a “significant shift in the UK market”. That shift he’s referring to is an increase in Remote Gaming Duty (RGD) from 21% to 40%.

Bally’s bailout could save William Hill betting shops

The 40% tax increase came into effect on 20 April 2026, and Evoke responded by announcing the closure of almost 200 William Hill betting shops from 1 May 2026. Although nothing has been confirmed, the ongoing talks between Evoke and Bally’s Intralot may include measures to keep some betting shops open.

The CEO of Bally’s Intralot, Robeson Reeves, stated during a recent investor call that it’s “important to have a presence in retail”. The comment was made during a broader discussion about the UK gambling market and the company’s outlook.

Reeves also said that retail shops and online casinosasinos have a “hand-in-hand” relationship that he may be keen to explore if Bally’s Intralot were to acquire Evoke and assets such as William Hill.

This may be one of the reasons why Evoke’s board, with the approval of Bally’s Intralot, has extended the deadline. Closing nearly 200 William Hill betting shops puts up to 1,500 jobs at risk. For now, details of the discussions remain private, and Bally’s Intralot has until 5 pm on June 8 to finalise its offer.