Bally’s Corporation has officially completed the sale of its International Interactive division to Intralot S.A. for €2.7 billion, in a landmark deal that reshapes the global iGaming and lottery landscape.
The transaction includes €1.53 billion in cash and €1.136 billion in newly issued Intralot shares, giving Bally’s a 58% stake and making it the majority shareholder. The deal arrives at a pivotal moment for Bally’s, which has a debt-to-equity ratio of 9.1, and will significantly strengthen its balance sheet and strategic position.
The combined company is expected to generate annual revenue of approximately €1.1 billion with EBITDA margins above 39%, positioning it as a global leader in online gaming and lottery services.
Bally’s —which currently reports $2.46 billion in annual revenue and $300 million in EBITDA— plans to use at least $1 billion of the proceeds to reduce secured debt, including its revolving credit facility. Additionally, it will allocate $200 million to the development of its Chicago casino project.
The move is expected to improve Bally’s liquidity position, currently at a current ratio of 0.49, and support future expansion initiatives.
The integration of Bally’s interactive operations into Intralot will create a diversified global operator with a robust presence across multiple markets and a focus on online gaming, betting, and lottery solutions.
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