UK Gambling Company Evoke Acquires Romania's Winner.ro for $11.1 Million

The UK gambling conglomerate Evoke plc. has announced the acquisition of a majority stake in New Gambling Solutions Srl for $11.1 million. The company will receive a 51% return share in NGS, Romania's 7th largest online betting and gaming platform. The move is part of Evoke's strategy to boost its presence in the Romanian market and its competitive edge globally.

A 2026 earn-out calculation predicts Evoke will have a majority share of 51% to 57% of NGS, with the option of 100% ownership after the acquisition is complete. The deal is set to be concluded within the Q3 of this year.

Elevated Position in Romania

Merging its Romanian operations with Winner.ro will grant Evoke an estimated 7% market share, making it the 4th largest betting and gaming entity. The acquisition aligns with the company's plan to capitalize on rapidly growing markets. The Romania market will be the 5th in Evoke's lineup after the UK, Spain, Italy, and Denmark.

Evoke CEO Per Widerström expressed his enthusiasm, stating, "I am excited to announce the addition of Winner to the Evoke portfolio. The acquisition is consistent with our strategy to build sustainable market-leading profitable positions in the most attractive markets. It is also consistent with our M&A strategy to focus on low-capital, high-impact combinations that accelerate the delivery of our strategy."

Data Management and Automation

After the acquisition, Evoke will combine Winner.ro operations with the 888.ro and use the Newton platform to exploit the operator's data management and automation mastery.

The merger is still subject to regulatory clearances and is expected to be finalized by Q3 2024. Once completed, it is expected to enhance revenue and reduce leverage by 2025.

"This combination will cement a leading position for Evoke, and I am looking forward to working with the whole team and Winner to deliver ongoing profitable growth and market share gains, as we deliver exceptional products through two incredibly strong and complementary brands," Widerström highlighted when remarking on the significant growth Evoke anticipates in Romania.

2024 Leverage Will Not be Impacted

Evoke insists the NSG purchase will not affect financial leverage in 2024. The concerns stem from the fact that the company took on significant debt in 2022 when it acquired William-Hill's operations outside the US. Therefore, decreasing financial leverage by settling debt has been the group's focus.

A strong presence in the Romanian market will help Evoke's case, along with the technological and operational synergies supported by the Newton platform. The group's share price has already gone up almost 3% since the deal was announced.