US casino operator Bally’s Intralot is mulling a potential £225m takeover of Evoke, the gambling company that owns William Hill and the 888 online casino brand.
The company, formerly known as 888 Holdings, is evaluating the possible offer together with its financial advisers, Morgan Stanley and Rothschild & Co.
Evoke told investors that a deal was expected to involve an all-share combination with Bally’s, with a partial cash alternative. Bally’s has until 18 May to announce a firm intention to make an offer.
The news comes four years after Evoke’s largely debt-funded £2bn takeover of high street bookmaker William Hill. The company posted a £78m pre-tax loss for the first half of 2025 and has debts totalling £1.8bn but a market value as low as £175m.
The company has struggled with an increase in duty on online gaming from 21% to 40%, while duty on online sports was increased from 15% to 25% in April. At the end of last year, Evoke warned it may have to close up to 200 of its 1,300 William Hill stores as a result of the new tax policies.
In 2019, William Hill had more than 2,300 stores, but it closed hundreds following the government’s decision to reduce the maximum stake on fixed-odds betting terminals to £2 and a failed bid to slash rents by up to 50%.
Bally’s was acquired by the Greek company Intralot in a €2.7bn (£2.4bn) deal last year. The company owns online casino Jackpotjoy, as well as a string of US casinos and resorts and one casino in Newcastle.
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