Evoke has revealed that they are holding talks with Bally’s Intralot regarding a possible all-share merger subsequent to their announcement of a strategic assessment in December.
The proposed transaction values Evoke at 50 pence per share (£0.50), and will be executed as an all-share transaction plus possibly some cash.
Evoke is currently considering the offer with the assistance of Morgan Stanley and Rothschild & Co. (financial advisors).
Bally’s Intralot stated that any formal proposal will depend on customary approvals & conditions, and that it also reserves its right to change the terms, structure and/or cash consideration.
These discussions occur after a months-long barrage of speculation since Evoke began the process of reviewing their outstanding affects on future revenue in preparation for the new tax increases coming in Italy.
Although Evoke has not stated what assets they may divest, some news stories have suggested that they were open to selling their Italian subsidiary, should they believe it is needed to mitigate the effects of the new tax increases.
Evoke’s share price rose to £0.43 at market open, up from £0.38 at the previous close, reflecting investor attention on the potential deal.
The outcome of discussions with Bally’s Intralot will be closely watched, as Evoke navigates regulatory pressure, cost restructuring, and strategic repositioning. A confirmed deal could significantly reshape the company’s future direction and market position.
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