William Hill owner Evoke agrees £243m takeover by Greek gaming group
William Hill owner Evoke has agreed to a takeover by a Greek gaming group after it was forced to put itself up for sale after the Budget tax raid. The FTSE 250-listed bookmaker said it had agreed to an all-share deal with Athens-listed Bally's Intralot – the front-of-shirt sponsor for Nottingham Forest Football Club – worth 52p per share and values the group at £243.1million. It represents a 138 per cent premium to Evoke's closing price on 9 December, the day before the group announced a potential sale. The betting firm, previously 888 Holdings, effectively put itself up for sale in December, when it launched a strategic review to ‘maximise shareholder value’. Tax raid: The William Hill owner put itself up for a sale after steep tax increases Evoke has been hit hard by tax increases on the industry after the Budget dealt a hammer blow to its UK business. Two-thirds of its revenues come from the UK, meaning it was left more exposed than its peers.Rachel Reeves raised the remote gaming duty levied on online casinos from 21 to 40 per cent, which came into effect in April 2026, and lifted the levy on online sports betting from 15 to 25 per cent.Evoke boss Per Widerstrom said at the time that the tax hikes were 'ill-thought-through, counter-productive, and highly damaging,' and were likely to result in the closure of a large number of its 1,300 UK sites.The firm’s board also said that the changes would have a ‘material adverse impact’ on profitability and cash generation.Evoke's woes predate the Budget tax raid, though, having struggled with mounting debts since 888 bought the non-US operations of William Hill for £2billion in 2021.In a statement, Evoke chair Mark Summerfield today said the takeover represents ‘the most attractive and deliverable outcome for Evoke shareholders’. The agreed offer is an increase from the 50p per share first offered by Intralot in April. Intralot will seek the approval of the listing of the new shares in Athens, it said today. As part of the deal, shareholders can opt to take cash instead of shares. The Greek firm said the acquisition of Evoke’s leading brands, William Hill and 888, will ‘significantly enhance’ its UK position. The enlarged Group will rank second in interactive gaming in the UK and fourth in online sports betting ‘supported by a strong retail presence,’ Bally’s said.Shares in Evoke jumped 12 per cent at the open to 45p. AJ BellAJ BellEasy investing and ready-made portfoliosHargreaves LansdownHargreaves LansdownFree fund dealing and investment ideasinteractive investorinteractive investorFlat-fee investing from £4.99 per monthFreetradeFreetradeInvesting Isa now free on basic planTrading 212Trading 212Free share dealing and no account feeAffiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.Compare the best investing account for you
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William Hill owner Evoke agrees £243m takeover by Greek gaming group
