Moody’s Investors Service has labelled the proposed purchase of Evoke Plc by Bally’s Intralot a positive development for the struggling operator, saying the deal would ease refinancing pressure and improve liquidity conditions post-acquisition.
Moody’s Highlights Debt Relief in Bally’s–Evoke Transaction
The deal is worth around £243 million ($325 million) and will see Bally’s Intralot acquire Evoke, the group behind well-known brands including William Hill and 888casino. The deal’s structure introduces new committed financing of approximately $1.19 billion that is key to alleviating near-term debt concerns at the target company, Moody’s said.
Evoke also has been carrying a large debt load, estimated at…