TLDR Bally’s Intralot is in talks to buy Evoke, owner of William Hill and 888, for roughly £225 million (about $304 million) The proposed deal is priced at 50p per share, a 29% premium over Evoke’s recent closing price Evoke carries around £1.8 billion in net debt and has seen its value drop over 90% since its 2021 peak Bally’s Intralot must announce a firm offer or walk away by May 18 under UK takeover rules Evoke recently posted its strongest quarterly revenue of 2025 at £464 million in Q4, up 7% from the prior quarter
Bally’s Intralot is in discussions to acquire Evoke, the gambling company behind William Hill, 888, and Mr. Green. The proposed deal would value Evoke at approximately £225.3 million, or around $304 million.
The offer is priced at 50 pence per share. That represents a roughly 29% premium to Evoke’s closing share price before the announcement was made.
Both companies confirmed the talks are ongoing. However, Evoke cautioned that “there can be no certainty that an offer will be made or as to the terms on which any offer might be made.”
Under UK takeover rules, Bally’s Intralot has a deadline of 5:00 p.m. London time on May 18, 2026, to either submit a firm offer or walk away from the deal entirely.
Evoke’s Long Road of Financial Trouble
Evoke has been under pressure for years. The company’s valuation has fallen more than 90% since its 2021 peak, when it completed the acquisition of William Hill.
The company currently holds about £1.8 billion in net debt. Its market value sits at roughly £175 million, a fraction of that debt load.
To cut costs, Evoke has been restructuring. Plans are in place to close around 200 William Hill betting shops in May.
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