(AsiaGameHub) – The entity previously known as 888 Holdings has verified that it is engaged in negotiations regarding a potential merger involving all shares.
UK.- Evoke Plc, the London-listed firm formerly called 888 Holdings, has revealed it is in talks with Bally’s Intralot over a possible all-share merger. The deal would value Evoke’s shares at £0.50 ($0.67) each and includes a partial cash option, with a formal offer deadline set for May 18.
The organization stated it is assessing the proposal with assistance from advisers Morgan Stanley and Rothschild & Co. This follows a strategic review initiated in December, which identified a potential sale of the entire company as a viable path.
The business has struggled since incurring debt to acquire William Hill’s European operations from Caesars, moving into the retail sector just as physical betting shops faced a difficult post-pandemic recovery. Additionally, its core online casino segment is dealing with the consequences of increased gambling taxes in the UK.
Over the last six months, Evoke has withdrawn from 13 global markets and intends to shut down 200 William Hill locations in the UK starting in May. Earlier this year, Deutsche Bank lowered its rating on Evoke to “hold,” pointing to the UK tax hike and reducing its EBITDA projections for 2026 and 2027 by 12 and 18 percent, respectively.
Bally’s already operates in the UK market, having introduced a branded online casino there in 2023. A successful takeover of Evoke would bring three major brands—888casino, MrGreen, and William Hill—under the Intralot umbrella. While this would bolster its footprint in the UK and Europe, including Italy where Evoke recently obtained a license, the transaction involves significant risk due to Evoke’s reported net debt of -£1.8bn in its H1 2025 results.
Bally’s Intralot noted that any definitive offer remains subject to customary conditions and approvals, and it maintains the right to modify the terms, such as the price and the structure of the deal.
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