\n Posted on: April 18, 2026, 12:16h.\u00a0\n <\/p>\n
\n Last updated on: April 18, 2026, 12:16h.\n <\/p>\n
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- A deal could be announced in the coming days<\/strong><\/li>\n
- Evoke is under significant financial duress<\/strong><\/li>\n
- Bally\u2019s reportedly has preferred bidder status<\/strong><\/li>\n<\/ul>\n
Bally\u2019s (NYSE: BALY) is reportedly close to acquiring William Hill owner Evoke (OTC: EIHDF) in a transaction being characterized as a \u201crescue\u201d mission of the financially strapped UK-based gaming company.<\/p>\n
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Bally\u2019s may be near a deal to acquire William Hill and 888 owner Evoke. (Photo by Jakub Porzycki\/NurPhoto via Getty Images)<\/figcaption><\/figure>\n Citing unidentified sources with knowledge of the matter, The Times <\/em>reports Bally\u2019s is in advanced conversations with the company formerly known as 888 and a transaction could be announced in the coming days. The sources acknowledge nothing is firm as of yet and it\u2019s possible a deal isn\u2019t reached.<\/p>\n
Evoke, which controls the iconic William Hill brand outside the U.S., hired investment banks Morgan Stanley and Rothschild last December to explore strategic alternatives<\/a> in an effort to generate shareholder value. Soon after, speculation emerged regarding potentially suitors for Evoke with one research firm noting several American operators<\/a>, DraftKings (NASDAQ: DKNG), Fanatics, and MGM Resorts International (NYSE: MGM) could consider explore bids for Evoke.<\/p>\n
That talk never advanced beyond the rumor stage, but more recently, there\u2019s been more persistent chatter that Bally\u2019s or Betfred may be interested in acquiring Evoke. The Rhode Island-based regional casino operator is said to have been granted unofficial preferred bidder status by Morgan Stanley and Rothschild, according to The Times<\/em>.<\/p>\n
Evoke Deal Would Be a Bally\u2019s \u2018Special\u2019<\/h2>\n
If Bally\u2019s wins Evoke, it would fit with the operator\u2019s long-running history of acquiring financially weakened companies in an effort to get appealing assets on the cheap and then deploy a turnaround playbook. Australia\u2019s Star Entertainment is a prime example of that.<\/p>\n
\nIndeed, Evoke is in a dark financial place. It has $2.4 billion in debt, much of which was taken on to finance the 2022 purchase of William Hill\u2019s<\/a> international operations from Caesars Entertainment (NASDAQ: CZR), but its market capitalization is just $216.4 million.<\/p>\n<\/div>\n
Evoke has also been hindered by the UK\u2019s move to up betting taxes, but Bally\u2019s has experience in dealing with the UK regulatory environment because it owned Gamesys. Last July, Gamesys was sold<\/a> to Greek gaming company Intralot in a deal that made Bally\u2019s the majority owner of that company.<\/p>\n
Despite its hefty debt burden, Evoke is considered a potentially attractive target because of its online casino footprint and its ownership of well-known brands.<\/strong><\/p>\n
Bally\u2019s Has Debt Issues of its Own<\/h2>\n
- Evoke is under significant financial duress<\/strong><\/li>\n