Bally’s Intralot Eyes Further Mergers Following Anticipated Evoke Acquisition

(AsiaGameHub) –   In Bally’s Intralot’s latest Q1 earnings call, CEO Robeson Reeves shared that the company is seeking additional potential merger targets outside of its ongoing bid for Evoke, the debt-laden British bookmaker.

Bally’s Intralot CEO Indicates Additional Mergers Are on the Horizon

Reeves informed investors that, apart from Evoke, the firm continues to evaluate the wider merger and acquisition landscape, and its unused GBP 160 million ($205 million) revolving credit facility provides flexibility to pursue suitable opportunities. Last month, rumors suggested Bally’s was poised to acquire Evoke, but both companies have since stated that discussions about the deal are still in progress.

Negotiations are currently underway for a potential offer of around $280 million for the entire company. However, there is no guarantee this interest will lead to a formal bid. Bally’s Intralot is expected to confirm by May 18 whether it will make a firm offer.

Reeves, who was appointed CEO of Intralot in November, noted that Bally’s has built a business with a margin profile that stands out in the industry, adding that Evoke has the scale to support further growth. He also highlighted a compelling opportunity to apply the company’s operating model to a significantly larger business, describing it as an opportunity they are pursuing with conviction.

The Firm Plans to Boost Its Focus on the UK Market

Reeves pointed out the rise in the UK’s Remote Gaming Duty, calling the tax hike the “most significant regulatory shift in years.” While this has impacted companies’ bottom lines, it has also made the overall market more competitive, forcing operators across all sectors to adapt to the new environment.

This appears to have spurred Bally’s to take a more aggressive approach to other merger and acquisition opportunities. “We are on the offensive,” Reeves said. “The competitive landscape is shifting in our favor.”

He explained that the company does not plan to remain idle, stating it is evaluating strategic opportunities from a position of genuine strength. Reeves also noted that they have an exceptional understanding of the UK market but admitted they do not yet have the same level of insight into other markets.

Regarding future merger activity, the strategy may continue to focus on the UK, where the company is particularly confident in its operational capabilities.

That being said, mergers sometimes come with their own difficulties and financial risks. For example, Bally’s Intralot recently announced a 35% revenue increase for 2025, but the merger between the two companies also carries some significant potential losses.