Bally’s Corporation has finalized its groundbreaking transaction with Intralot S.A., resulting in the successful acquisition of Bally’s International Interactive business by Intralot. This €2.7 billion deal merges Bally’s global digital and gaming operations with Intralot’s vast lottery infrastructure, creating one of the most formidable iGaming entities in the market today.

As a result of this merger, Bally’s becomes the majority shareholder in Intralot, holding a 58% equity stake in the company. The acquisition deal was structured to provide Bally’s with significant liquidity, with €1.530 billion paid in cash by Intralot and an additional €1.136 billion in newly issued shares from Intralot. This strategic partnership is expected to unlock numerous opportunities for growth and expansion, positioning the newly merged entity to generate over €1.1 billion in annual revenue with impressive EBITDA margins exceeding 39%.

Transaction Details and Increased Liquidity for Bally’s

The completion of the transaction marks a major step forward for Bally’s, as it now holds 873,707,073 newly issued shares from Intralot, on top of its previous holding of 207,534,878 shares. This gives Bally’s a dominant stake in the combined company, which will now leverage synergies between the two entities. The deal will provide Bally’s with substantial liquidity, offering it the flexibility to further accelerate its global growth initiatives, including the much-anticipated development of its Chicago casino. Bally’s plans to allocate at least $1 billion of the cash proceeds from the transaction to reduce its secured debt, including outstanding balances on revolving credit facilities.

In addition to this, Bally’s intends to use $500 million from the pending sale and leaseback of its Twin River Lincoln Casino Resort to further reduce debt, ensuring its financial stability while pursuing expansion. This will strengthen the company’s position as it continues to pursue its ambitious growth strategies, including its commitment to building the Chicago casino, a project currently valued at $940 million.

With Intralot’s acquisition, Bally’s International Interactive will retain its leadership and continue to operate under its established technology stack and digital capabilities. The merger will combine Bally’s established digital experience with Intralot’s expansive lottery infrastructure, creating a robust platform for further expansion in the global iGaming and lottery markets. This merger is expected to result in substantial cross-market synergies, offering increased product diversification across B2G, B2B, and B2C channels.

Bally’s and Intralot expect the combination to create new cross-selling opportunities, unlocking growth prospects in a market that is expected to reach €200 billion globally by 2029. Robeson Reeves, CEO of Bally’s, commented on the merger, stating in the company’s press release: “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.”

The merger’s success is expected to drive operational efficiencies and leverage data-driven innovation, with the combined entity poised to take advantage of new market opportunities and continue expanding its digital offerings.

A Stronger Global Presence in iGaming and Lottery

This merger positions Intralot and Bally’s as a global leader in iGaming and lottery operations, bringing together their strengths and complementing their product offerings. Intralot’s presence on the Athens Stock Exchange and its long-established expertise in the lottery sector, combined with Bally’s expanding footprint in interactive gaming, creates a dynamic force in the industry.

The company plans to harness these capabilities to generate robust long-term value, further solidifying its position as a key player in the iGaming sector. As part of Intralot, Bally’s International Interactive will continue to lead the charge in digital gaming, with an eye on both market penetration and innovation.

Intralot’s chairman, Sokratis Kokkalis, hailed the merger as a historic milestone, with the newly issued shares in the combined company being listed on the Athens Stock Exchange. The successful oversubscription of Intralot’s recent €429 million share offering reflects strong investor confidence in the merger.