Bally's Intralot has received the green light from its shareholders for the planned acquisition of William Hill and the owner of evoke, bringing the £243.1 million ($324.7 million) deal closer to finalization as the companies await the necessary regulatory approvals.
During the annual general meeting held by the Athens-listed company, an impressive 99.585% of shareholders voted in favor of the acquisition, with only 0.415% opposing it. This positive outcome follows evoke's own shareholder vote on August 17, where 99.63% supported the transaction.
Bally's Intralot has proposed a price of 52 pence per share for the London-listed evoke. With both companies securing shareholder approvals, the finalization of the deal now hinges on several regulatory processes, including a court hearing where a judge will review the final approval of the arrangement scheme. This hearing is anticipated to take place in either the fourth quarter of 2026 or the first quarter of 2027, depending on the timing of other necessary approvals.
The companies are aiming for completion of the acquisition within the same Q4 2026 to Q1 2027 timeframe. Once the transaction is finalized, evoke will be delisted from the London Stock Exchange.
Concerns regarding debt levels have been a significant aspect of the discussions surrounding the deal. Evoke reported a debt of £1.89 billion ($2.5 billion) for the first half of 2026, while Bally's Intralot disclosed a net debt exceeding £1 billion ($1.34 billion) for the same period.
Bally's Corporation, which holds a 58% majority stake in Bally's Intralot, also carries considerable debt, raising questions about its ongoing viability.
Despite these concerns, Bally's Intralot CEO Robeson Reeves and the company's leadership have expressed confidence that their debt situation will not hinder the combined entity's ability to implement its post-merger strategy and goals.
Evoke began seeking a buyer in December 2025 after initiating a strategic review in response to the UK government's announcement of increased online gambling taxes. The Remote Gaming Duty rose from 21% to 40% as of April 1, 2026.
These tax changes were expected to significantly impact the company's financial performance and led to accelerated closures across the William Hill retail estate, with 200 additional shops confirmed to close in March.
Evoke is currently part of the FTSE SmallCap and FTSE All-Share indices, having been downgraded from the FTSE 250 in late 2023 when it was still known as 888 Holdings. The company rebranded to evoke in 2024.
Bally's Intralot was established in 2025 through the merger of Bally's Corporation and Intralot, following Intralot's acquisition of Bally's International Interactive from Bally's Corporation.