BREAKING STORY: Debt-burdened UK gambling giant evoke–owner of William Hill, 888 and multiple other storied betting brands–has been sold to Bally’s Intralot for a knock-down £243.1 (US$327.08m), it was confirmed today.
In a chronicle of news foretold, evoke, formerly 888 Holdings has been wracked by crisis and multiple changes of leadership since buying William Hill from Caesars from Caesars Entertainment for £2.2 billion (US$2.94bn) in July, 2022.
This morning it was confirmed that FTSE250 evoke, once worth well over US$2 billion (£1.49bn) at the height of its valuation, when operating as 888 Holdings, has been shifted for a relatively-modest £243.1 million to U.S. casino heavy-hitter Bally’s Corp through their European avatar Bally’s Intralot.
Widerström Fate
The fate of evoke’s current CEO Per Widerström, a highly-experienced Swedish gambling industry veteran, who has bemoaned the strictures and tax regime of British betting since taking the top spot from Israeli Itai Pazne in October, 2023, is uncertain.
Ever since the precipitous decision to buy retail-heavy William Hill, with its 1,300 iconic High Street betting shops, all struggling to remain relevant in a gambling age driven by digital intelligence and iGaming, evoke has struggled to manage the massive attendant debt.
Massive Debt
The William Hill owner’s Net Debt now stands at £1.86 billion (US$2.49bn) and they posted FY25 losses of -£549.1 million (-US$409.69m).
Athens-based, European-facing Bally’s Intralot has agreed to acquire evoke in an all-share deal that will form: “A global gaming and lottery champion.”
The Intralot offer represents a 138 percent premium on evoke’s 2025 year end closing share value, and is expected to be finalised by Q1 2027.
“[We are] confident Intralot will be a strong and supportive owner of the business, and together with the more sustainable capital structure, the combination offers the best route to deliver long-term value for our shareholders and broader stakeholders,” evoke said in a media statement today.
