Finance
William Hill UK Owner Evoke Confirms $304 Million Takeover Bid From Bally's Intralot
Published by Global Banking & Finance Review®
Posted on April 20, 2026
2 min readLast updated: April 20, 2026
Add as preferred source on Google
Quick Summary
Evoke plc, owner of William Hill UK, is in talks over a takeover bid from Greece’s Bally’s Intralot valuing the company at 50 pence per share (~£225 million), amid heightened UK tax pressures prompting strategic review and potential asset sales.
William Hill UK owner Evoke weighs $304 million takeover bid from Bally's Intralot
Overview of the Proposed Takeover and Market Impact
Details of the Takeover Proposal
April 20 (Reuters) - Betting group Evoke, owner of William Hill UK and 888, is evaluating a takeover proposal from Greek lottery and gaming firm Bally's Intralot, it said on Monday, valuing the debt-laden UK company at 225.3 million pounds ($303.88 million).
The news sent Evoke's shares up nearly 16%.
Deal Structure and Financial Terms
The proposed 50 pence-per-share deal, a nearly 29% premium to Evoke's closing price on Friday, is expected to be an all-share combination with a partial cash alternative, the company said.
Industry Context and Company Challenges
Impact of UK Tax Hikes on Online Gaming
British tax hikes on online gaming last year left the industry reevaluating their businesses. Smaller UK-focused Evoke was one of the firms hardest hit by the tax increases.
Financial Performance and Strategic Moves
Its share price has collapsed in the past few years as the company built up high debt, missed profit expectations and faced rising taxes. It is worth less than a tenth of what it was at its peak in 2021, although it was trading at a six-month high on Monday.
Evoke withheld its outlook for the year in January, and said last month it would shut a number of betting shops from May, as it continued reviewing strategic options for the company, including a potential sale.
Bally's Intralot Expansion and Timeline
Market Presence and Recent Acquisitions
Bally's Intralot - active in 40 regulated jurisdictions worldwide - has been expanding its presence in the UK online gaming market.
It completed the acquisition of Bally's International Interactive business last year in a deal that made U.S.-based Bally's Corporation its majority shareholder.
Deadline for Firm Offer
The Athens-based company has until 5 p.m. London time on May 18 to announce a firm offer or walk away.
Additional Information
($1 = 0.7414 pounds)
(Reporting by Yamini Kalia in Bengaluru; Editing by Subhranshu Sahu and Susan Fenton)
Key Takeaways
- •Evoke confirms takeover discussions with Bally’s Intralot at 50 pence/share (~£225 million) all‑share deal with partial cash option, amid strategic review. (theguardian.com)
- •Evoke is facing severe headwinds from UK tax hikes—Remote Gaming Duty rising to 40% in April 2026—and has suspended its 2026 guidance while exploring sale, asset disposals or restructuring. (casinoguardian.co.uk)
- •Bally’s Intralot, formed through Intralot’s 2025 acquisition of Bally’s International Interactive business (€2.7 billion deal), operates in over 40 regulated markets and is majority‑owned by U.S.‑based Bally’s Corporation. (intralot.com)
References
Frequently Asked Questions about William Hill UK owner Evoke confirms $304 million takeover bid from Bally's Intralot
1Who is making a takeover bid for Evoke?
Greek lottery and gaming firm Bally's Intralot is making a takeover bid for Evoke.
2How much is the proposed takeover offer for Evoke?
The takeover proposal values Evoke at 225.3 million pounds ($303.88 million) at 50 pence per share.
3What type of deal is being proposed by Bally's Intralot?
The proposed deal is an all-share combination with a partial cash alternative.
4Why is Evoke considering a sale?
Evoke is reviewing strategic options after being hit hard by UK government tax hikes on the betting industry.
5What recent acquisition did Bally's Intralot complete?
Bally's Intralot completed the acquisition of Bally's International Interactive business, making Bally's Corporation its majority shareholder.
