Bally’s completes $3 billion merger deal with Intralot

Bally’s Corporation (Bally’s) has completed a €2.7 billion ($3 billion) deal with Intralot S.A. (Intralot) to transfer a majority share of holdings in the company.

A key part of the partnership for Bally’s is a 58% stake in the Greek lottery name alongside some leading digital assets that have been a hallmark of Intralot’s offerings.

Bally’s will take a decision making role in shaping Intralot’s future strategy and, as a result, control of the company’s international technology division as part of the agreement.

Bally’s is a global name in the table game and iGaming industry, with nineteen casino locations across multiple states, as well as a New York golf course, and a race track in Colorado.

We reported that the terms of this merger were being laid down in June 2025, with approval pending from Intralot shareholders and regulatory authorities.

At that time, it was agreed that Sokratis Kokkalis, the founder of Intralot and current Chairman, would retain a substantial stake as a result of the deal.

One of the key changes is the percentage of holdings Bally’s will have, as it was projected to increase from 26.86% to 33.34%; however, the recent release indicates a total majority of 58%, as a result of a new share release.

Kokkalis mentioned in the shared release, saying, “Today’s listing of the new Intralot shares on the Athens Stock Exchange, which were issued as part of the broader transaction for the acquisition of Bally’s International Interactive division of Bally’s Corporation, marks a historic moment for our company.”

The merger involved €1.53 billion ($1.74 billion) in cash and €1.136 billion ($1.31 billion) of newly issued shares to Bally’s.

CEO of Bally’s, Robeson Reeves, said of the closing of the deal, “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.”

Bally’s will assume control of the smaller company’s lottery holdings, with a view to expanding its existing reach. Intralot, “will retain its leadership, technology stack, and proven digital capabilities,” despite the takeover.

There is also the recent news that we covered on the Bally’s Bronx casino location being approved in a recent vote, which marks a busy fall season of decision-making by the entertainment giant.

The $4 billion endeavour involves a golf course run by the Trump family, who will be given a financial windfall of $151 million for the successful acquisition of a casino license at the Ferry Point location.

Featured image: Bally’s / Intralot

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