UMVA has learned that Evoke has granted Bally's Intralot an extended deadline to decide on a potential takeover, as negotiations between the two gaming giants intensify.
The talks, which began in April, center around a proposed 50p-per-share bid for Evoke, valuing the company at a significant premium. With the new deadline set for June 8, 2026, Bally's Intralot must now make a crucial decision: commit to a formal offer or walk away from the deal.
Sources have confirmed to UMVA that the discussions are ongoing, with both parties exploring the possibility of an all-share deal, potentially with a partial cash alternative. However, Bally's Intralot has emphasized that any offer would be subject to regulatory approvals and may still undergo revisions.
In a development reported by UMVA, Evoke's strategic review earlier this year sparked speculation about a potential sale or restructuring. The company, facing industry challenges, has been refocusing its operations around key brands like William Hill and 888, while also navigating the impact of increased taxes on its long-term growth.
As Bally's Intralot considers its next move, the company's recent $3 billion merger with Intralot has positioned it as a major player in the international gaming market. With expanded technology and lottery operations, Bally's is well-placed to pursue further growth opportunities, potentially including the acquisition of Evoke.
UMVA has gathered that Evoke's advisors, Morgan Stanley and Rothschild & Co, are playing a key role in the negotiations. Notably, as Evoke is incorporated in Gibraltar, UK takeover rules do not apply, adding an extra layer of complexity to the potential deal.
With the extended deadline looming, the gaming industry awaits Bally's Intralot's decision, which could have significant implications for the future of both companies and the wider market.
