Intralot S.A.. (Intralot) has further merged with Bally’s Corporation (Bally’s) Interactive Business in a deal totaling €2.7 billion ($3.4 billion).
This will see the merger of Intralot’s LotosX and PlayerX systems with Bally’s International Interactive’s Vitruvian data analytics platform.
Intralot and Bally’s acquisition
The deal between Intralot and Bally’s is set to be completed in the fourth quarter of 2025, pending approval from Intralot shareholders and clearance from antitrust and gaming regulatory authorities.
Sokratis Kokkalis, the founder of Intralot and the company’s current Chairman, will retain a majority stake as a result of the deal. The company will also remain listed on the Athens Stock Exchange and will increase Bally’s ownership in Intralot from 26.86% to 33.34%.
Kokkalis said, “It (the merger) is also a special day for me personally to see the company I founded 33 years ago in Greece, and which has become one of the top three companies in the lottery technology industry worldwide through its technology innovation and dynamism.”
Intralot currently has over €1.4 billion in contracted lottery revenue, and the company’s projections, according to the release, indicate that this figure is set to increase. Coupled with the established position of International Interactive Business in the UK, and a 89% historical contract renewal rate, this has further solidified the company as an international iGaming presence.
Soohyung Kim, Chairman of Bally’s board and Vice Chairman of Intralot’s board, was delighted at the finalization of the deal. He said, “This is a tremendous statement of intent that signals Bally’s strong commitment to establishing a global lottery and online gaming champion.”
Intralot will also take on a bigger board presence with the number of deciding seats growing to eleven. Kokkratis will remain in his seat as the founder and current Chairman of Intralot’s board.
Kim concluded in the release, “By joining with Intralot, the resulting company will be anchored in Europe, and will have significantly greater financial scale from which to drive growth and compete on a global basis.”
Featured image: Pixlr-AI generated.
