Bally’s (Bally’s) has completed a €2.7 billion ($3 billion) deal with Intralot SA (Intralot) to transfer a majority ownership stake in the company.
The key part of Bally’s partnership is a 58% stake in the Greek Lottery name along with some of the leading digital assets that have been the hallmark of Intralot’s offerings.
Bally’s will assume a decision-making role in shaping Intralot’s future strategy and, as a result, control of the company’s international technology division as part of the agreement.
Bally’s is a global name in the table gaming and iGaming industry, with nineteen casino locations in multiple states, as well as a golf course in New York, and a race track in Colorado.
We reported that Terms of this merger It is set for June 2025, with approval from Intralot shareholders and regulatory authorities.
At that time, it was agreed that Sokratis Kokkalis, Intralot’s founder and current Chairman of the Board of Directors, would retain a significant stake as a result of the transaction.
One major change is the percentage of ownership that Bally will own, which was expected to rise from 26.86% to 33.34%. However, Latest version Indicates an overall majority of 58%, as a result of the issuance of new shares.
Cocalis mentioned in Joint release“Today’s listing of new Intralot shares on the Athens Stock Exchange, issued as part of a broader transaction to acquire Bally’s Corporation’s Bally’s International Interactive division, represents a historic moment for our company,” he said.
Intralot merger details
The merger included €1.53 billion ($1.74 billion) in cash and €1.136 billion ($1.31 billion) of newly issued shares of Bally’s.
Bally’s CEO, Robson Reeves, said of the closing of the transaction, “This is an important transaction for Bally’s. We have unlocked significant liquidity in a key asset while creating a stronger platform for digital growth.”
Bally’s will assume control of the smaller company’s lottery properties, with the goal of expanding its existing reach. Intralot will retain its “leadership, technology stack and proven digital capabilities” despite the acquisition.
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Featured Image: Bally’s/Intralot
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