In a deal worth €2.7bn, Intralot is set to acquire Bally’s International Interactive business in a cash-and-shares transaction.
The board of directors of both companies have approved the transaction, which will consist of €1.530bn cash consideration and €1.136bn of newly issued shares in Intralot with an implied value of €1.30 per share. It is expected to complete in Q4 2025.
Currently, Bally’s is Intralot’s biggest shareholder, and it is expected to become the company’s majority shareholder following the transaction.
“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,” said Sokratis Kokkalis, Intralot’s founder and chairman.
“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.
“It is also a special day for me personally to see the company I founded 33 years ago in Greece and which has become one of the top three companies in the lottery technology industry worldwide through its technology innovation and dynamism, acquiring new vision and prospects.
“Finally, I would like to thank Mr. Kim for his commitment to our partnership.”
Soohyung Kim, chairman of Bally’s board and vice chairman of Intralot’s board, added: “This is a tremendous statement of intent that signals Bally’s strong commitment to establishing a global lottery and online gaming champion. By joining with Intralot, the resulting company will be anchored in Europe, and will have significantly greater financial scale from which to drive growth and compete on a global basis.”
