evoke takeover by Bally's Intralot clears shareholder votes

The sale of evoke, the Gibraltar-headquartered owner of William Hill and 888, has passed its shareholder votes. On 18 September, Bally’s Intralot told the market that its own investors had approved the share capital increase needed to fund the deal, with about 99.6% in favour. evoke shareholders had already backed the scheme on 17 August.

According to Gambling.com, 99.91% of the scheme shares voted at the court meeting supported the deal. The special resolution at evoke’s general meeting passed with 99.63%. The offer, first agreed in June, values evoke at about £243m, or 52p a share, according to AJ Bell. Investors can take new Bally’s Intralot shares or cash, with the cash element capped at £117.1m.

The scheme is being carried out under the Gibraltar Companies Act 2014. The 18 September announcement says some antitrust and regulatory conditions are already met. Others remain, and the court must still sanction the scheme.

Why it matters

evoke is run from Gibraltar and holds Gibraltar licences for its 888 brands. A change of owner means a new parent company, listed in Athens and majority-owned by US group Bally’s Corporation. Bally’s Intralot already owns the former Gamesys business, whose Gibraltar licensee runs Jackpotjoy and Bally Casino. Two big UK-facing groups with Gibraltar operations will sit under one roof.

There are open questions. Gambling.com reported that evoke flagged material uncertainty over its going-concern status, partly because it has limited visibility of the buyer’s plans. Bally’s Corporation also warned of “substantial doubt” about its own ability to continue as a going concern without new financing. For Gibraltar suppliers, affiliates and staff, integration plans and any cost savings will matter. Bally’s Intralot has pointed to about £180m of expected cost and capex savings, according to AJ Bell.

What happens next

The court sanction hearing is expected in Q4 2026 or Q1 2027. If sanctioned, the scheme would then become effective, and evoke holders taking shares would receive new Bally’s Intralot stock. The timetable remains indicative and could change.