Bally’s Intralot CEO Robeson Reeves has suggested product synergies would be further down the list of priorities, after the operator agreed to acquire evoke last week.
The £243m all-share deal, which gives the William Hill, 888 and Mr Green parent a £2.2bn equity value, was announced on Friday 5 June.
The transaction values evoke at 52p per share, with negotiations having started on a 32p-per-share deal back in January.
Speaking to trade press following the deal’s announcement, Reeves said he was not a “neat freak” and that marketing and personnel savings were more obvious action points.
Bally’s Intralot said it had already identified around £180m in synergies which would be realised by the end of the second year post-close.
Reeves remarked: “I’m not a neat freak. I would remain with OpenBet, with Hills. We will review what should happen around igaming in time. We won’t be doing a replatforming there, we’ll definitely just layer in our data capabilities to help boost customer retention and boost acquisition, and then we’ll review the product experience.
“I believe the most important part of product experiences in the UK is how you manage regulations. I think we will operationally manage carefully and market carefully. We’ll review the tech platforms over time.
“Everyone talks about technology synergies, and you’re going to end up with this one magical platform, which can win in every single market. Every country has different preferences. It’s not going to be one magical platform.
“I will definitely reduce above-the-line advertising with much more of a focus on digital, because that’s exactly what we’ve done, and that’s why we’ve grown our margins to an excess of 40%.”
Reeves went on to note the marketing reductions would come from TV and sponsorship spend, while “people-based costs” would be the “next piece”.
Hills is the title sponsor of the Scottish Professional Football League, having penned a five-year deal running through to the end of the 2028-29 season in 2024.
Additionally, when asked by EGR what the future may hold for evoke’s current C-suite, Reeves suggested consolidation could be on the horizon.
Evoke has been led by former Fortuna Entertainment Group CEO Per Widerström since October 2023.
He is supported by former Superbet chief Sean Wilkins as CFO and various other C-level execs.
Posting on LinkedIn following the deal’s announcement, Widerström wrote: “Today is a big day for evoke. We have announced a recommended acquisition by Bally’s Intralot – bringing together two businesses with complementary strengths, greater scale and real growth potential.
“There is still a process ahead, and I’m focused on seeing it through well. But I’m genuinely excited about what combining the strengths of both organisations could mean – for our customers, our people, and the business we’re building together.”
On the prospect on the evoke C-suite remaining in situ, Reeves said: “I’m not going to go through that at this moment in time. In principle, I don’t do two in a box.”
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Robeson Reeves says marketing and “people-based costs” will form basis of planned savings, with boss also hinting at future of evoke top team
The post Bally’s Intralot CEO on evoke tech synergies: “I’m not a neat freak” first appeared on EGR Intel.