Bally’s Acquisition to Ease Evoke’s Debt Challenges
Credit rating agency Moody’s Investors Service has described Bally’s Intralot’s planned purchase of Evoke Plc as a favorable development for the financially pressured company. The acquisition aims to lessen refinancing difficulties and enhance liquidity once completed.
Details of the Bally’s and Evoke Deal
The acquisition, valued at approximately £243 million (equivalent to $325 million), involves Bally’s Intralot buying Evoke, the parent company of major gaming brands such as William Hill and 888casino. Moody’s highlighted that the deal introduces fresh committed financing of around $1.19 billion, which is critical for addressing Evoke’s near-term debt…