(AsiaGameHub) – William Hill owner evoke has appointed Janice Duncan as Group Finance Director as speculation about a potential takeover continues to circulate.
Duncan, who joined after stepping down from her position as Chief Financial Officer at Casumo, brings 13 years of industry experience to the LSE-listed firm, including previous roles at William Hill.
She began her career in banking, holding multiple roles at National Australia Group before moving to the Royal Bank of Scotland and subsequently RBC Insurance, which has since been rebranded as Direct Line Group.
Duncan later transitioned into the iGaming sector in 2013, spending close to five years at Coral before joining William Hill in 2018.
After working her way up to become the company’s Finance Director in 2019, she departed at the end of 2020 to take on the role of Chief Financial Officer at Rank Interactive, meaning all of her work at that firm took place before evoke’s 2022 acquisition of William Hill’s assets.
Duncan spent two years at Rank Interactive before joining Casumo in 2023.
“I’m thrilled to announce that I have joined evoke as Group Finance Director,” she shared.
“I want to express my gratitude to the team at Casumo. Over the past three years, I’ve had the chance to work alongside outstanding colleagues, tackle complex challenges, and support meaningful growth and transformation.
“I’m eager to join evoke at this pivotal moment in its journey. The chance to work with skilled teams, advance strategic projects, and help guide the business through its next chapter is one I’m looking forward to with considerable enthusiasm.
“I’m enthusiastic about what lies ahead and ready to help support the ongoing success of the business and its staff.”
New takeover speculation surrounding evoke
The announcement of Duncan’s appointment arrives at a pivotal moment for evoke, which has just one week left to decide on the takeover proposal from Bally’s Intralot.
Earlier in April, evoke confirmed that it was “engaged in talks with Bally’s Intralot about a potential offer to purchase all of the company’s existing and newly issued share capital at a price of 50 pence per share”, equating to a total value of roughly £225 million.
The company, which also owns the 888 and Mr Green brands, acquired William Hill for £2.2 billion in 2022, when it operated under the name 888 Holdings. Selling the entire evoke business for £225 million would be viewed as a devastating loss.
An initial deadline of 18 May was set for this decision, but on that date, evoke announced it was extending the deadline to 8 June as negotiations continued.
A key point of debate surrounding the potential deal is the debt the combined company would take on: £1.9 billion from evoke and £1.5 billion from Bally’s Intralot, totaling roughly £3.4 billion.
This issue could be in the process of being resolved as we speak, and per Sky News this morning, a subsidiary of private equity firm TPG plans to provide up to £800 million to fund the takeover.
Funding from TPG Credit could make a proposed deal more feasible, although a representative for the firm declined to comment to Sky News about the matter.
This news also arrives as evoke faces ongoing struggles on the London Stock Exchange. The company first made a bid for William Hill in September 2021, when its shares were trading at roughly £4 each.
As of now, its share price sits at just 38.4 pence, with a market capitalization of £170.7 million. Many industry observers have noted that even a sale at this relatively low price could be the best path forward for evoke.
No matter the outcome, it’s clear that Duncan will have a packed schedule right from her first day at the company as we wait for updates on the Bally’s Intralot takeover process.
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