Evoke has given Bally’s Intralot an extended deadline to announce whether they will make an offer to acquire the company.
Evoke indicated that constructive discussions were still going on between them and Bally’s Intralot before the previous deadline of 18 May. Now, Bally’s Intralot has until 5 p.m. UTC on 30 June to make a decision about the proposal that could be part all shares with some cash consideration or possibly all cash.
Evoke said they would be willing to work with Bally’s Intralot to extend the deadline as long as it did not include an extension of any future acquisition offers.
Bally’s Intralot CEO Robeson Reeves said:
We see a compelling opportunity to bring our operating model to a significantly larger business and the potential to transform its financial performance through synergies we are uniquely positioned to deliver. This is an opportunity we’re pursuing with conviction.
Robinson stated that if Bally’s Intralot did acquire Evoke entirely, it would likely look to dispose of some assets to help reduce its own leverage or debt; specifically having Italy and Mr. Green’s operations as two possible divestiture opportunities.
