An American casino operator is closing in on a take-private rescue of the heavily indebted owner of William Hill.
Rhode Island-based Bally’s, known for its front-of-shirt sponsorship of Nottingham Forest Football Club, is in talks to buy Evoke, the former FTSE 250 bookmaker, according to City sources.
Evoke, previously known as 888, is understood to have informally granted Bally’s preferred bidder status and could unveil a rescue deal as early as this week, if terms can be agreed. However, sources cautioned that discussions were finely balanced and there was no certainty of an accord between the two sides.
Evoke owes lenders about £1.8 billion [$2.4 billion], compared with a stock market valuation that has collapsed to just £160 million [$216 million].
