Greek gambling company Intralot is purchasing the international online business of Bally’s Corporation in a deal worth €2.7bn ($3.2bn). Of the total sum, about €1.53bn ($1.8bn) will be in cash and the remainder in newly issued shares in Intralot for existing Bally’s shareholders.
boost its market share for online casino and lottery products
Intralot believes that acquiring Bally’s International Interactive will boost its market share for online casino and lottery products across Europe and North America. It wants to improve its technology across the board. The Greece-based firm already has contracts to operate lotteries in countries like Germany, Brazil, and the US.
The expectation is that the deal will close in the final quarter of 2025, with the Bally’s share price finishing 16% higher by market close on Tuesday off the back of the news.
Regarding the agreement, Bally’s Chairman Soo Kim said he hopes that the resulting entity “will have significantly greater financial scale from which to drive growth and compete on a global basis.”
