Bally’s completes sale of International Interactive business to Intralot | Yogonet International
Summary
Bally’s Corporation has completed the sale of its International Interactive business to Intralot S.A., valuing the business at €2.7 billion (US$3.12 billion). Under the transaction Bally’s received €1.53 billion in cash and €1.136 billion in new Intralot shares, resulting in Bally’s holding a 58% ownership stake in the combined company.
The merged group is positioned as a global iGaming and lottery operator expected to generate around €1.1 billion in annual revenue with EBITDA margins above 39%, leveraging cross-market synergies and digital capabilities. Bally’s plans to use at least US$1 billion of after-tax proceeds to reduce secured debt and a further US$200 million to advance development of its Chicago casino project.
Key Points
- The deal values Bally’s International Interactive at €2.7 billion (US$3.12 billion).
- Bally’s received €1.53 billion cash and €1.136 billion in Intralot shares, taking a 58% stake in Intralot.
- The combined company is expected to generate ~€1.1 billion in annual revenue with EBITDA margins above 39%.
- Bally’s will use at least US$1 billion of after-tax proceeds to pay down secured debt and US$200 million to fund its Chicago casino development.
- Bally’s will remain involved in the strategic direction of the merged business, which pairs Intralot’s lottery reach with Bally’s digital capabilities.
Content Summary
The transaction closes a previously announced deal that merges Bally’s International Interactive operations into Intralot’s global lottery and gaming platform. Bally’s monetises a major asset while retaining significant influence through a majority stake in the new group. Management frames the move as both a liquidity event for Bally’s and a step to accelerate global expansion of the interactive business under Intralot’s operational leadership.
Key financial moves include substantial cash proceeds to strengthen Bally’s balance sheet and targeted investment to fulfil commitments on the Chicago casino project. Executives emphasised the strategic fit: Intralot’s lottery expertise combined with Bally’s digital product set creates a scalable international operator.
Context and Relevance
This is a notable example of consolidation in iGaming and lottery markets — it creates a larger, vertically integrated operator with both lottery reach and digital wagering capability. For investors and industry watchers, the deal clarifies the valuation of interactive assets, reduces Bally’s operational exposure while keeping upside via equity, and signals continued M&A activity as companies scale globally.
Regulators, competitors and partners will watch how the combined group leverages cross-market opportunities and maintains regulatory compliance across jurisdictions. Operators planning growth strategies or seeking partners should take note of the enhanced scale and expected margin profile promoted by the merger.
Why should I read this?
Short version: big sale, big stake, and big cash for Bally’s — plus a clearer roadmap for its Chicago casino. If you follow iGaming deals, casino financing or market consolidation, this one matters. We’ve sifted the numbers and the implications so you don’t have to.