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Stock impact report

US casino giant swoops on William Hill owner after Labour tax raid [Yahoo! Finance]

Morgan Stanley (MS) 
Last morgan stanley earnings: 4/16 07:15 am Check Earnings Report
US:NYSE Investor Relations: morganstanley.com/about-us-ir
Company Research Source: Yahoo! Finance
A US casino giant is eyeing a takeover of the company behind William Hill and 888 after Labour's tax raid on betting companies. London-listed Evoke is in discussions over a potential rescue deal with Bally's, which is the front-of-shirt sponsor for Nottingham Forest FC. The cash-and-share offer would be priced at 50p per share, giving Evoke a market valuation of more than £200m. Bally's now has until 5pm on May 18 to either make a firm offer or walk away. Evoke said there was no certainty a deal would be reached nor on what terms. Evoke effectively put itself up for sale at the end of last year, tapping Morgan Stanley and Rothschild advisers to review its options. The betting giant has been struggling under a debt pile of £1.8bn, which dates back to its takeover of William Hill's non-US operations in 2021. Its share price has slumped by 90pc since then. But its troubles have been compounded in recent months by Labour's tax raid on the gambling industry . From the start of t Show less Read more
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