Evoke jumped on Monday, after it was reported that private equity firm TPG was being lined up to help fund a possible £225m takeover by Bally’s Intralot.

PG Credit – part of the US firm – is in talks to provide as much as £800m to help refinance Evoke’s significant borrowings, although an unnamed source cautioned that the final amount could be lower.

The London-listed owner of William Hill and online gaming brand 888 is in talks with Greek lottery operator Bally’s Intralot about a possible 50p per share takeover. The deal is expected to comprise an all-share combination with a partial cash alternative.

A so-called put up or shut up deadline was recently extended, and Bally’s Intralot – which is listed in Athens – now has until 1700 BST on 8 June to make a firm offer or walk away.

According to an anonymous analyst quoted by Sky, TPG Credit’s involvement would “strongly increase” Bally’s Intralot’s chances of succeeding.