William Hill owner Evoke in talks on £225m takeover by casino group Bally’s
Evoke, owner of William Hill, is in takeover discussions with Bally’s for £225m, valuing the group at a premium.Summary
Evoke, the owner of William Hill and 888 online casino, is in takeover talks with US casino operator Bally’s Intralot. The proposed offer is 50p a share, a nearly 33% increase from Friday’s closing price, valuing the group at £225m. This comes after Evoke, formerly 888 Holdings, acquired William Hill’s network of 1,400 bookmakers for £2.2bn four years ago, with its shares subsequently falling by 90%. The deal is expected to be an all-share combination with a partial cash alternative, but there is no certainty of an offer. Bally’s must confirm its intentions by May 18th. Evoke, burdened with £1.8bn in net debt, has faced challenges including increased gaming duties and regulatory fines, and recently announced the closure of 200 William Hill betting shops.
(Source：The Guardian)