Bally’s Intralot is exploring a potential takeover of William Hill UK owner evoke in a deal that could fetch a sale price of approximately $305m.
As first reported by The Guardian, Bally’s Intralot is considering a purchase of evoke to diversify its gaming assets, following the formation of the company in 2025. That is when Greek gambling company Intralot agreed to acquire Bally’s International Interactive business.
Bally’s International Interactive, the online gaming segment of U.S. gaming giant Bally’s Corporation, was sold to Intralot in a deal that had an enterprise value of roughly $3bn.
Bally’s Intralot might expand its reach with a potential acquisition of evoke, the owner of gambling brands William Hill and 888. Evoke purchased William Hill’s UK operations and its portfolio of retail betting locations in 2021 in a deal that was worth roughly $3bn.
Bally’s Intralot plans to notify evoke whether it will make an offer or withdraw consideration for a sale by May 18, with a potential extension of the deadline if agreed by both parties.
“There can be no certainty that an offer will be made or as to the terms on which any offer might be made,” said evoke in a statement to SBC Americas. “The Board of evoke is evaluating the possible offer together with its financial advisers, Morgan Stanley and Rothschild & Co”.
Evoke undergoes rebrand from 888
Evoke is facing a potential sale to Bally’s Intralot as the company has mounting debt of roughly $2.4bn. Evoke responded to its disappointing financial performance in 2024 with a rebrand, after previously operating as 888 Holdings. The company rebranded just after exiting the U.S. gaming market with the shuttering of SI Sportsbook and Casino.
Evoke underwent a strategic review of its U.S. B2C operations, leading to its decision to part ways with Sports Illustrated owner Authentic Brands Group. The end of the partnership resulted in the shuttering of their joint venture, SI Sportsbook and Casino. The platform had market access in four U.S. online wagering markets before its closing.
Evoke cited market access fees and the competitive U.S. gaming market dominated by several large players as reason for its decision to close online wagering operations in the region.
The decision by evoke to cut ties with Auhentic Brands Group came at a cost. Evoke agreed to pay a $25m termination fee, with another $25m payment between 2027 and 2029.
However, Evoke did profit from the sale of select U.S. B2C assets to Hard Rock Digital following its strategic review. No details of the assets or sale price were disclosed.
Gambling tax changes impact evoke’s bottom line
Evoke’s financial standing has also been affected by gambling tax changes in the UK to generate more revenue for the government. Earlier this month, the UK raised the remote gaming tax rate from 21% to 40% and the online sports tax from 15% to 25%.
The changes are projected to cost the company around $183m annually, according to estimates shared by evoke Chief Executive Officer Per Widerström.
Evoke also announced it will close the doors of around 200 William Hill retail betting locations in the UK to mitigate the cost of doing business in the region amid new tax rates.
