The buyer is Bally’s Intralot, an Athens-listed operator that provides lottery technology for 12 US states and runs casinos internationally. The all-stock transaction values Evoke at 52p a share, a 77% premium to its 29.4p average before talks were made public, though the company holds £1.8bn in net debt and recently announced 200 shop closures in response to the April rise in remote gaming duty from 21% to 40%. Evoke’s largest shareholder, the Shaked family (19.2%), has endorsed the merger.