Bally’s Intralot and evoke have extended the deadline for discussions over a possible takeover, but the exact reason for the extension was not confirmed.
Reports had been circulating for quite some time that Bally’s Intralot was planning to acquire evoke for 50p per share.
When the initial announcement of the potential deal was confirmed near the end of April, Bally’s Intralot had the option of extending the offer beyond the first deadline of 18 May 2026. That request has since been agreed by evoke.
Bally’s Intralot now has until 17:00 BST 8 June 2026 to confirm whether it plans to progress with the acquisition or not.
However, this deadline can also be extended with the consent of the William Hill, 888 and Mr Green operator.
Any offer made by the Athens-listed company is subject to customary conditions and approvals, with Bally’s Intralot also reserving the right to vary the offer’s terms, including price, consideration form and mix, as well as transaction structure.
“This is an opportunity we are pursuing with conviction.”
Robeson Reeves, Chief Executive Officer at Bally’s Intralot
Robeson Reeves, Chief Executive Officer at Bally’s Intralot, stated at the time of the potential offer’s initial announcement: “We have built a business with a margin profile that stands out in this industry. evoke has the scale.
“We see a compelling opportunity to bring our operating model to a significantly larger business, and the potential to transform its financial performance through massive synergies that we are uniquely positioned to deliver. This is an opportunity we are pursuing with conviction.”
evoke has been undergoing a strategic review of its operations since December last year. During the operator’s recent FY2025 earnings call, Group CEO Per Widerström did state that discussions with Bally’s Intralot on a possible offer ‘remain active’.
Attractive markets
While the timeline on the evoke deal has been extended, Bally’s Intralot did publish its preliminary results for the first quarter of 2026, with group revenue rising to €268.1m in comparison to the same period last year (Q1 2025: €95.6m), while adjusted EBITDA increased to €100.2m (Q1 2025: €30.2m).
During Bally’s Intralot earnings call for FY2025 last month, Reeves shed light on the markets that caught the company’s attention when the opportunity to make an offer for evoke arose.
The CEO acknowledged that due to market dynamics, Italy wouldn’t have initially been a market that stood out to Bally’s Intralot, but it does hold appeal for the firm. Romania and Spain were also highlighted.
evoke operates the brands of 888casino, 888sport, 888poker and William Hill in Italy and Spain, while the group also features 888 and Winner in Romania.
Reeves said at the time: “Romania is an attractive market and was on the list. There’s also a kind of layering aspect, whereby they’re a decent player in Spain and we already have a presence in Spain, so there is some logic there.
“With any of these M&A opportunities, you have to look at everything in the round. We have to take all the appropriate steps. I view some of these as ways to accelerate time. To have the international footprint that they have would take many years, and at that scale, so we will review all opportunities. It’s a sensible fit.”
