Greek gaming technology company Intralot has agreed to acquire Bally's international interactive business for $3.17 billion. The division, formerly Gamesys, was bought by Bally's in 2021 for $2.7 billion. The transaction positions Intralot for greater exposure in key regulated markets in Europe and Asia.
Key Takeaways
- Intralot will acquire Bally's international unit for $3.17 billion, expanding its global gaming footprint.
- Intralot will pay $1.17 billion in cash and the remaining amount in Intralot shares.
- The move comes amid Bally's proposal to claim one of three downstate New York casino licenses for a $4 billion Bronx casino.
The deal will consist of $1.79 billion in cash and the rest in Intralot shares listed on the Athens Stock Exchange. The share issue will raise Bally's stake in Intralot to 33.34% from 26.86%, triggering a tender offer under Greek securities law. Intralot expects to finalize the deal in the fourth quarter of 2025, pending regulatory approvals and final contractual agreements.
The sale permits Bally's to reallocate capital to big development opportunities like a $1.7 billion Chicago integrated casino resort, a proposed $4 billion Bronx resort, and a pending acquisition of Australian-based Star Entertainment.
Bally's is also pursuing operating rights to a future property on the site of the old Tropicana in Las Vegas. With a number of projects that require substantial investment, the sale alleviates pressure on the company's balance sheet and realigns strategic priorities.
Intralot extends Idaho lottery deal, vows introduction of new technology
While this deal is confirmed, Intralot is expanding its US business in other areas. Intralot's US subsidiary has penned a 10-year extension of its contract with the Idaho Lottery, continuing a partnership that began in 2007. The new agreement enters into force in September 2027 and will usher the state's lottery operations into the future through an end-to-end solution of new technologies.
Among the agreement's priorities is the introduction of LotosX Omni, a digital lottery solution meant to automate communication with retailers and accelerate game innovation. Intralot's CanvasX content management system will also be incorporated.
Hardware upgrades include deploying the PhotonX retail terminal and Dream Touch Flex vending machines. The products will fuel access to draw and instant-win games through self-service technology. The agreement also includes a statewide refresh of vending and security infrastructure.
Bally's reveals official Bronx casino proposal
While Bally’s is selling its international interactive business, it is pushing ahead with expansion plans for its land-based US operations. Bally's has formally submitted to the New York State Gaming Facility Location Board a proposal for a $4 billion casino and entertainment complex in the Bronx.
The proposed complex, "Bally's Bronx," would be developed on a landfill area in Ferry Point Park, Throggs Neck, and if completed, it would be the largest private investment in the borough.
The project includes a 500,000-square-foot casino floor with 3,500 slots and 250 table games.
The bid places Bally's under consideration for one of three downstate gaming licenses approved by state lawmakers. Community Advisory Commissions, made up of local officials, are now screening the proposals, with the final decisions reportedly coming later this year.
