Done deal: Bally’s and Intralot complete M&A transaction
The deal sees Bally’s become the majority Intralot shareholder, with Intralot separately acquiring Bally’s Interactive for $3.12bn.
Key Points
- Bally’s and Intralot have completed their merger transaction
- Intralot now owns Bally’s International Interactive, while Bally’s now holds a 58% stake in Intralot
- The overall valuation of assets and cash transferred from Intralot to Bally’s settled at $3.12bn
Bally’s and Intralot have announced the completion of their complex merger, which sees Bally’s now own 58% of Intralot’s shares, while Intralot has also completed the $3.12bn acquisition of Bally’s International Interactive.
This now finalized transaction will, in essence, see the two outfits merge into one entity while delivering a significant cash and valuable asset stake in Intralot – worth $1.57bn – to Bally’s. Additionally, Intralot has also paid $1.7bn towards Bally’s, totalling a $3.12bn overall transaction valuation – which has subsequently resulted in a 58% share ownership in Intralot for Bally’s.
Following the announcement of the successful $496m issue of new Intralot shares yesterday, Bally’s has confirmed its intention to allocate at least $1bn of the cash proceeds from the deal towards the reduction of its secured debt.
Initially announced earlier this summer, Bally’s also revealed a $657.5m revenue figure during the second quarter of the year – up 5.8% from Q2 2024. For Intralot, this transaction’s completion falls in the wake of the announcement in August that the company had extended its 20-year partnership with the Montana Lottery.
Good to know: Bally’s announced that it has begun construction work on its new Chicago casino development last month, following the rejection of its NYC casino proposal
Speaking on this deal’s official closure, Robeson Reeves, CEO of Bally’s, commented: “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. Intralot’s lottery expertise and reach, combined with Bally’s International Interactive’s proven digital capabilities, creates a powerful foundation for expansion over the long term.”
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