Bally’s Intralot has secured a £261.7m senior secured sterling term facilities agreement with institutional lenders, notifying Euronext Athens of the arrangement as the company presses ahead with its pending acquisition of evoke.
The company has designated the facility for general corporate and working capital purposes, with acquisition activity and the refinancing of existing indebtedness cited as primary uses. The disclosure adds another layer to a capital structure that, as of 31 March 2026, carried total debt of €1.75bn and adjusted net debt of €1.49bn.
The new sterling facility sits alongside a substantial existing debt stack assembled over the past year. When Intralot acquired the Bally’s International Interactive division in July 2025 – a transaction that created the current combined entity – it drew a £400m six-year term loan from institutional lenders and a £200m four-year amortising loan from Greek banks to fund the deal. Robeson Reeves, Bally’s Corporation’s CEO, subsequently took the same leadership role at Bally’s Intralot in November 2025.
Evoke Takeover Anchors the Financing Drive
The new facility arrives as Bally’s Intralot advances its £243.1m firm bid for evoke, the LSE-listed owner of William Hill, Mr Green and the 888 brands, made at 52p per share on 5 June. To support that deal, the company had already arranged a separate £900m private credit line backed by TPG Credit, Oaktree Capital Management and Oak Hill Advisors, earmarked for integrating evoke’s brands and assets – with projected initial synergies of £180m to £200m outlined from the merger. The evoke board is expected to vote on the takeover on 18 August.
Evoke itself carries net debt of just under £1.9bn, including a €450m Senior Secured Floating Rate Note and a $575m Term B loan. Reeves has maintained that evoke’s debt obligations are non-recourse to Bally’s Intralot. Speaking to SBC News and other industry media after the evoke announcement, he said: “I guess you could argue that shareholders in Bally’s Intralot carry low downside risk if we were to fail, but huge upside benefit if we’re successful, and I’m very confident that we’ll be successful.”
Against that backdrop, Deutsche Bank disclosed a purchase of 1,425,000 Bally’s Intralot shares between 16 and 24 July at an average price of €1.088608 per share – a position representing 0.334% of total share capital. The involvement of a major institutional name, even at a modest entry, has been noted by the company as a marker of confidence heading into the evoke vote. The acquisition financing model mirrors broader patterns of debt-driven M&A consolidation seen in the sector, including recent gaming merger activity where structured facilities underpin multi-brand integration strategies.
With the evoke shareholder vote set for 18 August, and the combined group’s leverage trajectory under close scrutiny, the allocation of the new £261.7m facility across acquisitions, working capital and debt refinancing will be a key disclosure point in upcoming financial reporting.
Source: SBC News
Renata Kovacs has spent the better part of a decade following the regulatory shifts and licensing battles that define how gambling markets open, close, and evolve across Europe and beyond. She came up through the legal and compliance side of the industry before shifting her focus to journalism and analysis, giving her a perspective that sits closer to the operator room than the press box. Her coverage tends to cut through the noise and get straight to what a regulatory change actually means for the businesses and players involved.