In yet another instance that proves how big players within the gambling world now face increased pressures, Evoke has agreed to undergo a £243 million takeover. Besides illustrating the growing pressures on gambling firms, the proposed take-over demonstrates just how much the market is bound to change due to the combination of strict regulations, taxes, and legacy issues.
According to Reuters, Evoke announced its agreement to undergo an acquisition process at the hands of Bally’s Intralot. Bally’s is a Greek lottery and gaming company that will conduct the buy-out in an all share deal. In essence, Evoke is the parent firm that owns the William Hill and 888 brands, which are popular in sportsbook and iGaming circles.
This move was very important regarding timing. Evoke had some financial issues because of the purchase of William Hill, while simultaneously, the UK gambling sector has become more unfriendly towards gambling firms. Moreover, with recent increased remote gaming duty to 40% from 21%, things are looking even more negative.
There would not be a huge effect on the way casino or sports betting operations are conducted because it’s unlikely that William Hill or 888 will disappear overnight due to a merger. This is especially true when talking about large scale acquisition deals. They could, however, affect bonuses, product lines, and targeting of the brand among others.
This is yet further evidence that the gambling world is starting to get tough on operators without a good enough offering. Even though they can rely on their fame, big operators need economies of scale, profitability and strong technology. In regulated markets, the cost of operating continues to grow due to taxation and regulatory issues.
As far as our DashTickets readers are concerned, this article is important since it illustrates what happens on the casino operator side of the business. Once they feel under pressure, things could eventually start affecting players as well through tighter bonuses, withdrawal restrictions and even market exits by smaller companies.
If you’d like to compare some betting apps against each other, you should definitely check our list of the best betting apps in New Zealand or our online casinos in New Zealand review.
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