Evoke was up 12.5% on Friday, making the online gaming operator the strongest performer on the FTSE Small Cap index.

The rally pushed the stock to its highest level since October 2025 as investors reacted positively to news of a takeover agreement.

Bally’s Intralot (LSE:0KA1) has agreed to acquire the UK-based bookmaker in a transaction valuing the company at approximately £243.1 million.

Under the terms of the deal, Evoke shareholders will receive 52 pence per share, providing a significant uplift from the company’s previous market valuation.

The agreed price represents a premium of 33.8% to Evoke’s closing share price before the company disclosed that it was engaged in discussions with Intralot regarding a potential transaction.

The sizeable premium helped drive strong buying interest in the stock following confirmation of the acquisition, with investors moving to align the market price more closely with the offer value.

Following the announcement, Evoke’s shares advanced to their highest level in more than eight months, reflecting growing confidence that the proposed acquisition will proceed.

The transaction marks a significant development for both companies and highlights continued consolidation activity within the European gaming and betting sector.