TPG Angelo Gordon International, Oaktree Capital Management, and Oak Hill Capital Partners will provide approximately €1 billion ($1.2 billion) in funding for Bally's Intralot's acquisition of gambling firm Evoke Plc. The deal represents a significant investment in the gambling sector, bringing together major private equity firms to finance this strategic acquisition.

The funding arrangement underscores growing confidence in the gambling industry's recovery and consolidation prospects. Bally's Intralot, expanding its footprint through this acquisition, will leverage the substantial capital backing from three prominent private equity firms. The deal signals continued private interest in gaming assets despite regulatory challenges in certain markets.

For Evoke Plc, the acquisition provides an exit for shareholders while positioning the company under Bally's Intralot's operational umbrella. The €1 billion funding package reflects the substantial valuation placed on Evoke's market position and technology assets. This transaction likely accelerates consolidation within the gambling technology sector as larger players seek scale and market share.