{"id":3014,"date":"2026-06-08T11:24:15","date_gmt":"2026-06-08T11:24:15","guid":{"rendered":"https:\/\/www.bettingjobs.com\/?p=3014"},"modified":"2026-06-08T11:25:54","modified_gmt":"2026-06-08T11:25:54","slug":"finally","status":"publish","type":"post","link":"https:\/\/www.bettingjobs.com\/bettingjobs-earningsandmore-partnership\/finally\/","title":{"rendered":"Finally"},"content":{"rendered":"<p><strong>It\u2019s about time:<\/strong> Bally Intralot has reached an all-shares agreement with Evoke to buy the business at an enterprise value of \u00a32.2bn, including \u00a31.9bn of debt and valuing the equity at \u00a3243m. The statement said a cash alternative will be available.<\/p>\n<ul>\n<li>The offer represents a 77% premium to the three-month average price of Evoke\u2019s shares ahead of the news breaking about talks in mid-April.<\/li>\n<li>The companies said they hope to complete the deal in either Q426 or Q127.<\/li>\n<\/ul>\n<p><strong>Closure: <\/strong>The news brings to an end a protracted takeover saga that was <a href=\"https:\/\/earningsandmore.substack.com\/i\/194770607\/bally-ho\">first announced in mid-April<\/a> and which had already had <a href=\"https:\/\/earningsandmore.substack.com\/i\/198524399\/ballys-intralot\">one extension granted last month<\/a>. The sticking point was the size of the debt pile and the position of major shareholders, the Shaked family.<\/p>\n<ul>\n<li>Bally\u2019s Intalot said it had irrevocable undertakings to accept the deal from 29% of Evoke\u2019s shareholders.<\/li>\n<li>Evoke first announced a <a href=\"https:\/\/earningsandmore.substack.com\/i\/181218050\/distress-signals\">strategic review back in December<\/a> after a look at the potential of the sale of the Italian business widened out into a potential sale of the whole business.<\/li>\n<\/ul>\n<p><strong>The great unlock:<\/strong> Bally\u2019s Intralot said this morning it hoped to unlock \u00a3180m of synergies, and in combining William Hill and 888 with Jackpotjoy and Virgin Casino it will be the second-biggest player in UK iCasino and the #4 operator in UK OSB.<\/p>\n<ul>\n<li>On a pro forma basis, the combination would have produced FY25 revenues of \u00a33.2bn and adj. EBITDA of \u00a3856m on adj. EBITDA margins of 27%.<\/li>\n<li>\u201cWe are confident that the enlarged group will not just be stronger than before, but stronger than ever,\u201d said Soo Kim, chair of Bally\u2019s.<\/li>\n<\/ul>\n<p><strong>The end of the road:<\/strong> The deal marks the end of a traumatic period for Evoke, a company that brought together William Hill and 888 back in July 2022 and which has been lumbered with debt ever since.<\/p>\n<ul>\n<li><strong>Diary date:<\/strong> Bally\u2019s Intralot will host a call with analysts at 11am this morning after which <em>E+M<\/em> will release a deal X-ray note to PRO subscribers.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/earningsandmore.substack.com\/p\/finally\">Like what you are reading? CLICK here to read the FULL article!<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s about time: Bally Intralot has reached an all-shares agreement with Evoke to buy the business at an enterprise value of \u00a32.2bn, including \u00a31.9bn of debt and valuing the equity at \u00a3243m. The statement said a cash alternative will be available. The offer represents a 77% premium to the three-month average price of Evoke\u2019s shares&hellip;<\/p>\n","protected":false},"author":13,"featured_media":3017,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","footnotes":""},"categories":[24],"tags":[],"class_list":["post-3014","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bettingjobs-earningsandmore-partnership"],"acf":[],"post_author_name":"","post_authors_type":"","post_authors_from_team_members":false,"_links":{"self":[{"href":"https:\/\/www.bettingjobs.com\/af-api\/wp\/v2\/posts\/3014","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bettingjobs.com\/af-api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bettingjobs.com\/af-api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bettingjobs.com\/af-api\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bettingjobs.com\/af-api\/wp\/v2\/comments?post=3014"}],"version-history":[{"count":1,"href":"https:\/\/www.bettingjobs.com\/af-api\/wp\/v2\/posts\/3014\/revisions"}],"predecessor-version":[{"id":3016,"href":"https:\/\/www.bettingjobs.com\/af-api\/wp\/v2\/posts\/3014\/revisions\/3016"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bettingjobs.com\/af-api\/wp\/v2\/media\/3017"}],"wp:attachment":[{"href":"https:\/\/www.bettingjobs.com\/af-api\/wp\/v2\/media?parent=3014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bettingjobs.com\/af-api\/wp\/v2\/categories?post=3014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bettingjobs.com\/af-api\/wp\/v2\/tags?post=3014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}