Greek Casino Giant Agrees £243m Takeover of William Hill Owner

Published: 05 June 2026. The English Chronicle Desk. The English Chronicle Online.

The British gambling sector witnessed a massive shift today as a major acquisition was officially confirmed. The renowned owner of high street bookmaker William Hill has accepted a substantial corporate takeover offer. This major financial transaction marks a new era for one of Britain’s oldest betting brands. The Athens-listed casino and lottery operator Bally’s Intralot is the corporation behind this strategic purchase. This monumental deal values the heavily indebted parent company Evoke at roughly two hundred forty-three million pounds.

Evoke also operates the prominent 888 online casino brand alongside its famous high street betting shops. The two gambling companies had been locked in intense private talks for two full months. Bally’s Intralot possesses extensive international operations and maintains a very powerful commercial presence across the United States. This current transaction comes exactly four years after Evoke completed its own massive corporate acquisition. The betting group previously paid over two billion pounds to purchase the William Hill network. That vast network included about one thousand four hundred high street shops across the country.

Since that ambitious purchase, the share price of the London-listed gambling firm collapsed dramatically. The value of Evoke stock plunged by a staggering ninety percent over that four-year period. The financial strain was compounded significantly by recent changes implemented by the British government last autumn. Ministers announced a dramatic increase in remote gaming duty during a major budget statement last November. The tax rate on digital gaming jumped significantly from twenty-one percent to forty percent.

Both companies noted that this tax hike triggered a material shift in the operating environment. They stated the new policy would create meaningful dislocation across the highly competitive domestic market. The aggressive tax increase officially came into effect for all operators this past April. Furthermore, a new duty on online sports bets will increase significantly in the near future. This specific sports betting tax will rise from fifteen percent to twenty-five percent eventually. This upcoming tax increase is scheduled to take effect in April of twenty-seven.

However, the government chose to exclude traditional horse racing from these new sports betting taxes. The final all-stock deal values the embattled Evoke business at fifty-two pence per share. This price represents a seventy-seven percent premium to the recent average market valuation. The calculation was based on the average share price leading up to mid-April. That period marked the final business day before the takeover talks became public knowledge.

Shares in the London-listed company soared by fifteen percent following the official market announcement. Investors clearly welcomed the news of the takeover after months of deep financial uncertainty. Representatives from Intralot expressed immense confidence regarding their new expansion into the United Kingdom. They firmly believe that the British market remains a highly attractive geography for investment. Corporate leadership stated that the current market dislocation presents a perfect opportunity for industry consolidation.

The Gibraltar-headquartered Evoke has been struggling under an immense and suffocating mountain of debt. The company currently carries a net debt load of about one billion eight hundred million pounds. This massive debt pile severely dwarfs its current public market value of one hundred eighty million. Chief executive Per Widerström previously warned about the severe financial impact of the new taxes. He stated the gambling tax changes would cost the business up to millions each year.

The escalating costs would drain up to one hundred thirty-five million pounds annually from operations. In response to these pressures, the company appointed major global investment banks last December. Morgan Stanley and Rothschild were hired to conduct a comprehensive review of strategic options. The company sought to find a viable path forward amid worsening financial conditions. Mark Summerfield, the chair of Evoke, commented extensively on the difficult decision today.

He explained that the board was resolutely focused on maximizing value for their shareholders. This focus was necessary in light of the significant changes to British duty structures. The board also had to navigate constraints posed by the existing capital structure. Summerfield stated that this deal represented the most attractive outcome for all current shareholders. The influential Shaked family has given its full backing to the international merger agreement.

The family co-founded the original eighty-eight-eight brand back in nineteen ninety-seven with great success. They remain the largest single shareholder in Evoke with a nineteen percent stake. Co-founder Avi Shaked expressed deep personal pride when reflecting on the history of the firm. He noted that he envisioned building a world-leading gaming business three decades ago. The family looks forward to remaining part of this business for many years.

They will continue their involvement as committed minority shareholders within the newly combined group. The pressure on the business had already resulted in visible changes on British high streets. Just last month, Evoke announced the imminent closure of about two hundred William Hill shops. The company blamed severe cost pressures and the government’s tax rises for the closures. These closures commenced in May, altering the face of many traditional British town centers.

Soo Kim, the prominent chair of Bally’s, shared immense optimism regarding the future combination. He stated that Intralot was fully confident the deal would deliver substantial corporate benefits. Shareholders of both companies are expected to benefit from enhanced global scale and technology. Intralot currently provides advanced lottery technology for twelve different state lotteries across America. The multinational firm also boasts extensive operations throughout Europe, South America, and north Africa.

Their vast corporate footprint reaches deeply into south-east Asia, Australia, and vibrant New Zealand. Conversely, Evoke has faced a series of damaging management issues in recent years. These internal scandals have weighed heavily on the reputation and valuation of the business. In twenty-three, the board abruptly removed its chief executive following a major internal crisis. They also suspended lucrative VIP customer accounts located across the Middle East that year.

This drastic action followed an internal investigation into systemic compliance and regulatory failures. The investigation uncovered a severe failure to follow vital anti-money-laundering processes within the business. This scandal came shortly after the firm settled a massive regulatory penalty in twenty-two. The company agreed to pay a record nine million pound fine to regulators. That penalty was the third highest in the history of British gambling regulation.

The severe punishment followed systemic failings that led to vulnerable customers amassing huge losses. These devastating financial losses occurred during the height of the global Covid pandemic period. Regulatory authorities have since increased scrutiny on all major operators within the domestic market. The new combined entity must navigate these strict regulatory frameworks while integrating their operations. Industry analysts suggest this merger could trigger further consolidation across the entire British sector.

Smaller operators may find it increasingly difficult to survive under the heavy tax burden. The arrival of a well-capitalized international giant could reshape high street betting entirely. Customers will likely see branding changes as the integration process moves forward over time. The deal remains subject to standard regulatory approvals and final shareholder confirmation votes. Both boards expect the transaction to conclude smoothly before the end of the year.

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