Key Moments:
- Intralot reported year-on-year revenue growth of 1.7% in its latest semiannual results
- The company announced plans to acquire Bally’s Interactive for €2.7 billion ($2.8 billion), expected to finalize in Q4 2025
- Intralot extended its lottery contracts in Idaho and Montana, enhancing its offering and long-term partnerships
Financial Snapshot and Acquisition Plans
Intralot, the Athens-based gambling technology provider with 1,700 employees as of 2023, posted a marginal increase in revenues for the first half of the year. The firm’s latest report showed a year-on-year growth rate of just 1.7%, signaling a period of revenue stagnation.
Looking to the future, Intralot has outlined its intention to acquire Bally’s Interactive in a deal valued at €2.7 billion ($2.8 billion). The transaction is structured to include a €1.53 billion cash payout, with the remainder consisting of 873,707,073 shares priced at €1.30 each. Bally’s will emerge as the principal shareholder in the new corporate structure if the acquisition is completed as planned during the fourth quarter of 2025.
| Acquisition Target | Deal Value | Cash Component | Share Component | Expected Closing |
|---|---|---|---|---|
| Bally’s Interactive | €2.7 billion ($2.8 billion) | €1.53 billion | 873,707,073 shares at €1.30 each | Q4 2025 |
Leadership Perspective
In response to the report, Intralot chairman Sokratis P. Kokkalis said:
“INTRALOT’s results for the first half of 2025 reflect stable financial performance in terms of revenue and operating profitability, strengthened cash flows, and a significant reduction in debt and leverage.
“At the same time, Intralot has announced a pivotal strategic decision to acquire Bally’s International Interactive, which will transform the company by enhancing its growth capabilities in the modern digital environment and substantially expand its financial scale.”
Lottery Partnerships and Expansion
Intralot has been actively renewing and expanding its lottery service agreements. The company renegotiated its contract with the Idaho Lottery, set to extend its partnership for an additional ten years starting September 2027. Continued collaboration with the Montana Lottery was also announced to deliver a next-generation lottery operating system and other solutions. This relationship, which has spanned nearly two decades, will now run for another seven years, with options to extend for up to three more years. In July, Intralot was again selected to work with the Montana Lottery.
Regulatory Compliance Challenges
Earlier in the year, Intralot was subject to a $6.5 million fine following violations of Washington, D.C., contracting regulations. Local requirements mandate that major contracts must feature the involvement of smaller firms. Intralot faced penalties due to its partnership with a company determined to be a shell entity.
- Author
Daniel Williams
