Evoke Agrees to a £243M William Hill Takeover by Bally's Intralot

Evoke agrees to a £243 million takeover by Bally's Intralot as rising gambling taxes in the UK and a £1.86 billion debt force the owner's hand.

Evoke, formerly 888 Holdings, has agreed to a £243 million takeover of William Hill by Greek lottery and casino operator, Bally’s Intralot.

The agreement by William Hill’s parent company is a move that has the potential to influence the entire UK gambling market.

A winning merger

Evoke PLC, the parent company of UK online casinos like William Hill, 888 Casino, and Mr Green, is now handing over William Hill to Bally's Intralot, which is backed by US gaming group Bally's Corporation.

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At the time of writing, the sale is set at 52p per share. That’s a 33-77% premium depending on the reference date. It’s an all-share deal with a partial cash option capped at £117 million.

This is in the middle of rising taxes and mounting debts. The fact that Evoke shares jumped over 14% after the announcement shows that investors are confident in this deal.

Reasons for the sale

In short, because of debt and taxes. Evoke is carrying a heavy debt of £1.86 billion after the £2.2 billion acquisition of William Hill UK from Caesars back in 2022.

Not to mention the tax hikes. The government announced major changes to the UK's gambling regulations and raised remote gaming taxes from 21% to 40% in April 2026.

They will also be increasing online sports betting taxes, which will see a 10% hike, going from 15% to 25% in 2027.

Evoke's market value had fallen to roughly £180 million before takeover talks began. Its share price is down approximately 90% since 2021. The company also announced that they are planning on shutting down 200 William Hill betting shops to relieve some of the pressure costs.

Strategic reasoning

William Hill agrees to a £243m takeover by Bally's Intralot — What are the reasons behind the Evoke and Intralot deal for William Hill?

There’s a clever strategy behind the merger. Basically, it creates one of the largest betting and gaming groups. It also combines Evoke’s heritage brands with Intralot’s lottery technology.

For Bally's Intralot, the acquisition buys a foothold in the UK's disrupted but still significant market, as William Hill alone is one of the most recognised sports betting brands in the country.

That way, both parties benefit from the recent agreement. Evoke gets relief from building tax pressures and debt constraints, which creates a more sustainable financial base. Intralot, on the other hand, gets to expand its business.

The timing is also deliberate. Acquiring during a period of market pressure means lower entry costs, even accounting for the higher tax burden ahead.

A word from the companies

Evoke’s Chairman, Mark Summerfield, described the deal as "the most attractive and deliverable outcome for shareholders, especially considering the tax pressures and debt constraints".

Soo Kim, Bally’s Intralot Chairman, states that the merger would create a leading diversified European gaming business with enhanced technology and data capabilities.

The deal is also backed by Avi Shaked, 888 Co-founder, who says that it fulfils his vision of building a global gaming leader.

What happens next

If the market reaction is anything to go by, it seems that this merger is something everyone is excited by. This can be seen in the 14% to 16% surge in Evoke shares after the announcement, hitting levels that the company last saw in October 2025.

Analysts have described the takeover as a lifeline and rescue for Evoke and also a calculated strategic expansion bet into the UK gambling market for Bally's.

The deal is still subject to regulatory and shareholder approval, as no completion date has yet been confirmed. For players at William Hill or any of the other Evoke brands, there are no immediate changes expected. The brands are likely to operate as normal during the transition process.

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By Deni

Verified Casino Expert

Expertise: Casino Content Writing, Journalism & (PR), Gambling Regulations, Dutch & German Gambling Markets

Hi, I'm Deni! I'm a research obsessive with a passion for gambling regulations, market trends, and casino news. I dig deep into every topic I cover - so every article, review, or guide I write is built on solid research and real detail.

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Last updated: June 19, 2026

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Evoke agrees to a £243m William Hill takeover by Bally's Intralot

A winning merger

Reasons for the sale

Strategic reasoning

A word from the companies