Key Moments:
- Intralot has completed its €2.7 billion acquisition of Bally’s International Interactive, forming Bally’s Intralot.
- Bally’s Corporation has become the largest shareholder in Intralot following the deal’s closure.
- Bally’s plans to use $1.0 billion to reduce secured debt and will invest $200 million in its Chicago casino project.
Creation of Bally’s Intralot through Landmark Merger
Intralot has finalized its €2.7 billion acquisition of Bally’s International Interactive, resulting in the formation of a combined entity called Bally’s Intralot. The purchase, which included both cash and new Intralot shares, positions Bally’s Corporation as the leading shareholder in Intralot. The merger fuses Intralot’s lottery experience with Bally’s expertise in digital gaming, under the continued leadership of Robeson Reeves, CEO of Bally’s Corporation.
Today we created a new company between Bally’s & Intralot, combining our excellence in online gaming with a long heritage of innovation in lotteries to create the next great gaming company focused on taking advantage of growth opportunities in the online gaming and lottery sector pic.twitter.com/fT3ehgqCV0
— Bally’s (@ballys_casino) October 9, 2025
Details and Strategic Impact of the Transaction
Initially announced in July 2025, the acquisition has been completed after receiving all necessary regulatory and shareholder approvals. By issuing new shares to Bally’s Corporation, Intralot gives Bally’s a strong influence over its future direction. The integration aims to capitalize on both companies’ strengths in lottery operations and online gaming to fuel global expansion. Robeson Reeves will now direct both Bally’s Corporation and the new Bally’s Intralot group, with his leadership expected to create a unified strategy for accelerated growth.
Executive Perspective and Integration Goals
Reeves commented on the merger’s completion: “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.”
The merger enhances the combined group’s footprint across sports betting, online casinos, and digital lottery solutions, creating prospects for broader global collaboration in gaming technology.
Use of Proceeds and Expansion in Chicago
Bally’s has outlined its plans for the proceeds of this significant deal. At least $1.0 billion from the transaction’s cash portion will be used to reduce secured debt, ensuring additional financial stability. The company also plans to invest $200 million into developing its Chicago casino, supporting both infrastructure and hospitality offerings. This project is seen as a critical piece of Bally’s integration of physical casino properties and digital gaming platforms.
| Transaction Component | Allocation |
|---|---|
| Secured Debt Reduction | $1.0 billion |
| Chicago Casino Project Investment | $200 million |
Industry Trends and Technology Integration
The merger echoes a broader industry movement toward consolidation between major technology and gaming operators. A recent example cited is Allwyn’s acquisition of PrizePicks, demonstrating the appeal of cross-border alliances that blend local market strength with global scale.
The newly formed Bally’s Intralot plans to offer a “Holistic Omni-Channel Product Offering” encompassing lottery, iGaming, and sports betting. Reeves described the merger as a pivotal moment: “This transaction marks a transformative moment for Bally’s as we unite our outstanding gaming and data technology with Intralot’s exceptional expertise in lottery.”
Financial Outlook
Intralot expects to achieve “€35 milion – €40 million run-rate cost synergies” within 24 to 36 months post-transaction. The company is targeting a net leverage ratio of 2.5x and intends to maintain a dividend payout ratio of 35 percent of net income as part of its ongoing financial objectives.
- Author
Daniel Williams
