Evoke extends key deadline in £225m takeover talks

(Sharecast News) - Shares in gaming and gambling group Evoke rallied on Tuesday, after the William Hill-owner confirmed takeover talks were continuing.

The firm, formerly 888 Holdings, is in negotiations with Greek lottery operator Bally's Intralot about a possible 50p per share takeover. The proposed £225m deal is currently expected to comprise an all-share combination with a partial cash alternative.

Providing a brief update after markets closed on Monday, Evoke said "constructive discussions" were continuing and that Bally's Intralot had therefore requested - and been granted - an extension to the so-called put up or shut up deadline.

Bally's Intralot, which is listed in Athens, now has until 1700 BST on 8 June under Takeover Panel rules to make a firm offer or walk away. The revised deadline could be extended again with the consent of Evoke.

As at 0845 BST, the stock had put on 8% at 36.06p.

888 Holdings acquired William Hill's UK business from Caesars Entertainment in 2022 for £2bn, but was left with considerable debt. The firm, which changed its name to Evoke in May 2024, has been carrying out a strategic review since last November, after hikes to gaming duties were announced in the Budget.

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