Bally’s Intralot is set to acquire evoke plc for £243 million ($326 million), a move that is anticipated to yield significant operational synergies. However, the merger raises questions about potential job losses within the newly formed entity. The acquisition is projected to generate annual savings of £180 million ($241 million) for the combined company, positioning it as a formidable player in the UK iGaming market.
In its announcement last Friday, Bally’s Intralot highlighted ambitious synergy targets, emphasizing that the integration will focus on consolidating activities across the enlarged group. The document noted that cost savings would primarily stem from streamlining operations and optimizing organizational structures.
The merger is expected to lead to a reduction in workforce as both companies share overlapping functions in their UK operations, including corporate offices, compliance teams, and technology divisions. Bally’s Intralot aims to retain and motivate talent while reviewing the new organizational structure post-merger.
Additionally, the retail segment of William Hill, which evoke owns, may face significant cuts. Previous tax increases in the UK have already pressured its 1,400 retail shops, prompting evoke to announce plans to close around 200 locations, affecting approximately 1,500 jobs. A new owner focused on cost reduction could accelerate this trend.
Despite the potential job cuts, Bally’s Intralot believes the merger will ultimately benefit the company, as it seeks to implement cost-saving measures that include optimizing marketing spending and consolidating IT infrastructure.