evoke Shareholders Back Bally's Intralot Takeover With 99.63% in Favour

Shareholders in evoke, the owner of William Hill, 888 and Mr Green, have voted through a takeover by Bally's Intralot. At the general meeting on 17 August, 99.63% of evoke shares were cast in favour. A court meeting held the same day saw 30 scheme shareholders vote for and one against.

The two companies confirmed talks in April, and the £243.1 million all-share offer and its terms were set out in June. Both now say the required antitrust and regulatory approvals have been satisfied, with the court hearing to sanction the acquisition expected in the fourth quarter of 2026 or the first quarter of 2027.

The vote landed on the same day Bally's reported second-quarter revenue of $792 million (£584 million), up 20.5% from $658 million a year earlier. Adjusted EBITDAR took the expected hit from the UK's Remote Gaming Duty rise from 21% to 40%. "The gross negative impact of the UK gaming tax change on our B2C segment EBITDAR was approximately $39m in the quarter," chief executive Robeson Reeves said.

Reeves framed the acquisition as "a clear pathway towards growth" and said the company remains on track against its margin management commitments. He also said the shake-out he had expected in Britain has been slower than forecast. "It is worth flagging that market consolidation in the UK has not moved quite as quickly as we originally expected," he said. "We see that as an opportunity still ahead of us rather than a concern, particularly as smaller operators come under increasing pressure post-World Cup and through the fall tax season. We are already delivering double-digit growth ahead of that consolidation, which gives us confidence in our position."

That reading matches Entain, which has argued the same tax rise is helping it take share as rivals retrench, while the industry counts 540 betting shop closures since the Budget.