Greek Lottery Giant Intralot Acquires Bally’s Digital Gaming Assets in €2.7 Billion Deal
Greek lottery technology provider Intralot has agreed to acquire Bally’s Corporation’s International Interactive Business in a €2.7 billion transaction that will create one of Europe’s largest gaming technology companies. The deal combines Intralot’s established lottery operations across 40 jurisdictions with Bally’s digital casino platforms, particularly its strong UK market presence.
Transaction Structure Creates New Gaming Powerhouse
The acquisition involves a mixed consideration package. Bally’s will receive €1.53 billion in cash and €1.136 billion in newly issued Intralot shares. The share portion equals 873.7 million shares valued at €1.30 each. This arrangement makes Bally’s the majority shareholder in the combined entity upon completion.
Following the transaction’s completion in the fourth quarter of 2025, Intralot will remain listed on the Athens exchange. However, it will operate with significantly enhanced scale. The combined company is expected to rank among the largest firms by market capitalization on the Greek bourse.
Strategic Positioning in Growing Digital Markets
The merged entity will operate in a global gaming market projected to reach $187 billion by 2029. iGaming segments are growing at 14% annually, while lottery markets expand at 5% per year. Intralot brings over €1.4 billion in contracted lottery revenue through 2029. This revenue is supported by an 89% historical contract renewal rate and 16-year average contract duration.
Bally’s International Interactive contributes established digital casino operations. The division maintains a particularly strong position in the UK market with premium margins. The division’s Vitruvian data analytics platform will integrate with Intralot’s LotosX and PlayerX systems. This integration will enhance customer insights and marketing capabilities.
Leadership Transition and Governance Changes
Robeson Reeves, currently Bally’s CEO, will assume the chief executive role at the combined Intralot. Nikolaos Nikolakopoulos, Intralot’s current Group CEO, will serve as President and CEO of the Lotteries division. Chrysostomos Sfatos will become CFO.
Intralot founder Sokratis Kokkalis will maintain a significant stake and board position. Soohyung Kim, who serves as Chairman of Bally’s board, will also join the leadership team. The post-transaction board will comprise 11 directors. A majority will be independent members.