Evoke has handed Bally’s Intralot more time to decide whether it will move ahead with a formal takeover offer for the betting and gaming company as negotiations between the two sides continue.
The companies said discussions are still active around a possible acquisition covering all issued and expected share capital in evoke. The approach, first disclosed on April 20, valued the business at 50 pence a share and would likely be structured as an all-share deal with a partial cash alternative attached.
The extension gives Bally’s Intralot until 5 p.m. London time on June 8, 2026, to either announce a firm intention to make an offer or walk away from the process. Evoke said the deadline could still be pushed back again if its board agrees.
Evoke sets new deadline for Bally’s Intralot
Bally’s Intralot has already said that any formal proposal would still depend on standard regulatory approvals and customary conditions. The group also kept the option to revise major terms of any bid, including pricing, structure, and the balance between cash and shares.
Evoke stressed there is still no guarantee that a formal offer will eventually emerge.
The talks arrive during a turbulent period for evoke and the wider UK gambling sector. Earlier this year, the company launched a strategic review examining options that reportedly included a potential sale, a breakup of business divisions, or other restructuring measures after tax increases announced in the UK budget added pressure across the industry.
At the same time, the company has been reshaping operations around major brands including William Hill and 888. William Hill recently confirmed plans to close roughly one in ten betting shops across the UK during 2026 as retail gambling operators continue adjusting to higher operating costs and changing customer habits.
Despite those challenges, evoke recently reported what executives described as its strongest trading quarter in years. Chief executive Per Widerström pointed to improved online performance and stronger customer activity, although he also criticized tax increases introduced by the UK government and warned they could damage long-term growth for regulated operators.
The latest takeover discussions also follow Bally’s completion of its merger with Intralot in a transaction valued at roughly $3 billion. This expanded Bally’s international gaming footprint and strengthened its technology and lottery operations, giving the company greater scale as it pursues further expansion opportunities.
Evoke said Morgan Stanley and Rothschild & Co are advising the company during the discussions. The business also reminded shareholders that UK takeover rules do not formally apply because evoke is incorporated in Gibraltar, meaning any future bid would not fall under the authority of the UK Takeover Panel.
Featured image: evoke Plc / Bally’s Intralot
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