Evoke, the London-listed gambling company that owns the William Hill bookmaker chain and 888 online casino brand, has confirmed it is in acquisition talks with Bally's (a US-based casino operator now owned by the Greek firm Intralot) at a proposed price of 50p per share, valuing the heavily indebted group at approximately £225 million. The offer represents nearly a third above Evoke's last closing price, yet the company's shares have fallen roughly 90% since it paid £2.2 billion to acquire William Hill in 2021, leaving it with around £1.8 billion in net debt against a market capitalisation of just £175 million. The potential deal, which may involve an all-share combination with a partial cash alternative, comes as Evoke faces mounting pressure from sharp UK gambling tax increases and the planned closure of around 200 William Hill betting shops; Bally's must declare its intentions by 18 May under City takeover rules.