Robeson Reeves, Chief Executive Officer of Bally’s Intralot, described 2025 as a milestone year and 2026 as a year of strong momentum, during a briefing with analysts on the previous financial year’s results, while reaffirming 2026 guidance and setting a-EBITDA at 422 million euros.
Bally’s Intralot is raising the bar on synergies in the global gaming market, targeting the potential acquisition of Evoke, in a move that underscores its strategy to capitalize on opportunities to gain market share in its core markets, against the backdrop of recent disruption stemming from tax changes in the UK gaming sector. According to management, the two sides are in advanced discussions, and Bally’s Intralot has indicated its intention to submit an offer for the entire issued and to-be-issued share capital of Evoke at a price of GBP 0.50 per share. The proposed transaction is expected to include a share exchange component, with an alternative for partial cash consideration. However, the company noted that there can be no certainty that an offer will be made, nor as to the terms on which any such offer may proceed, or whether the anticipated synergies will ultimately be realized.
Any firm offer, if made, would be subject to customary terms and regulatory approvals, and Bally’s Intralot reserves the right to revise the terms of such an offer, including the price, the form and mix of consideration, and the transaction structure. At the same time, it confirmed to shareholders, lenders and other stakeholders that, should the proposal result in a completed transaction, its financing would be aligned with its stated financial policy objectives within its existing framework.
With regard to the potential benefits, Bally’s Intralot believes that a partnership with Evoke could deliver significant strategic and operational synergies, including enhanced scale, a broader geographic footprint, and cost optimization opportunities.
The move would also position the group more competitively to capture market share in a gaming sector undergoing structural change following the increase in UK gambling taxes effective April 1, 2026, with the tax rate rising from 21% to 40%. Management had previously indicated that it has developed a mitigation plan to offset this impact.
Evoke is a well-established player in the online betting and gaming sector, with a portfolio that includes the William Hill brand and 888 online betting and gaming operations. It also operates an extensive retail network in the United Kingdom alongside a strong international presence.
“We have built a business with a margin profile that stands out in the sector. Evoke has the scale. We see a compelling opportunity to apply our operating model to a significantly larger platform and to transform its financial performance through substantial synergies that we are uniquely positioned to deliver. This is an opportunity we are pursuing with determination,” Reeves said.
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