Bally’s Corporation has won unanimous lender approval to amend its $620 million revolving credit facility (RCF).
The move is tied to the planned sale and leaseback of its...
Bally’s becomes majority owner of Intralot after €2.7B deal
Intralot has completed the acquisition of Bally’s digital gaming division for €2.7 billion, making Bally’s the majority owner of Intralot.
The agreement included €1.53 billion in cash and €1.14 billion in newly issued shares.
The companies expect the merger to bring in around €1.1 billion in yearly revenue, with EBITDA margins of over 39%.
Bally’s CEO Robeson Reeves said that finalizing the sale of the company’s International Interactive unit to Intralot creates a stronger platform for expanding its digital business.
Reeves stated:
“This is a milestone transaction for Bally’s. We have unlocked significant liquidity in a key asset while establishing an even stronger platform for digital growth. Our shareholders now have visibility into the value of our interactive division as part of a larger, globally scaled operator. Intralot’s lottery expertise and reach, combined with Bally’s International Interactive’s proven digital capabilities, creates a powerful foundation for expansion over the long term.”
Intralot will continue to leverage Bally’s technology stack, which will enhance the company’s scale and lottery infrastructure.
Bally’s Corporation reported a 5.8% increase in Q2 revenue, reaching $657.5 million.
Growth in its Casinos & Resorts and U.K. Online divisions helped make up for the...
