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...
Intralot to acquire Bally’s Interactive in $3.18B deal
Intralot S.A. and Bally’s Corporation have officially agreed to a major sale deal of Bally’s International Interactive business for €2.7 billion ($3.18 billion).
Combining Intralot’s lottery tech with Bally’s digital gaming tools, the deal will be a mix of cash and shares. This means that Bally’s will receive €1.53 billion in cash and €1.13 billion in newly issued Intralot shares.
The deal is set to complete in late 2025, pending shareholder and regulatory approval. Once completed, Bally’s will become the majority owner of Intralot, which will remain listed on the Athens Stock Exchange. Intralot founder Sokratis Kokkalis will remain in a key position and form a new board.
Kokkalis commented on the news:
“The transaction we announced today marks a doubly important day: On the one hand, for Intralot, which is growing with the acquisition of the online division of Bally’s International Interactive, creating a company with significant multiples in operating profits and unlimited space to expand into online gaming. On the other hand, for Greece and the Greek stock exchange, where a strong large-cap company is being created with the prospect of attracting significant foreign capital, helping to establish the country as a reliable investment destination.”
Robeson Reeves, Bally’s CEO, will become the new CEO of Intralot. Intralot’s current CEO, Nikolaos Nikolakopoulos, will lead the Lottery division.
Robeson Reeves said:
“This is a tremendous statement of intent that signals Bally’s strong commitment to establishing a global lottery and online gaming champion.”
Intralot and Bally’s also signed agreements to share branding and services to ensure a smooth transition and continued growth. By 2029, these sectors are expected to be worth $187 billion.
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...
