Bally's Reports Continued Revenue Increase Prior to Intralot Merger Agreement (Q2 2025)
Bally's Corporation Announces Transformative Deal with Intralot
Bally's Corporation, a leading name in the gaming industry, has announced a significant strategic shift with a planned M&A deal valued at €2.7 billion. The deal involves the acquisition of Bally's International Interactive business by Greek lottery operator Intralot [1][2].
Post-transaction, Bally's will become the majority shareholder in Intralot, combining its diverse international interactive gaming assets with Intralot's strong lottery technology and market presence in Europe and North America. The merged entity aims to lead in lottery and digital gaming markets worldwide [2][4].
The deal is expected to create a company with about €1.1 billion in revenues, an estimated 38% pre-synergies EBITDA margin, and over €1.4 billion in contracted lottery revenue through 2029 [1][2][4]. This move will help Bally's diversify beyond its core US casinos and resorts operations, strengthening its footprint in interactive and lottery gaming globally.
Meanwhile, Bally's reported second quarter revenues of $657.5 million. The company's casinos and resorts revenue climbed 14.7% to $393.3 million, thanks in part to the contributions from the four regional gaming properties of Queen Casino & Entertainment [1].
In North America, the interactive division saw a 21.5% jump in revenue to $56.5 million, boosted by the Queen interactive business and strong growth in iGaming and online sports betting [1].
The decline in International Interactive revenue was due to the 2024 divestiture of Bally's Asian interactive business. Excluding this impact, International Interactive revenue would have grown 10% year-on-year [1].
Bally's is also making strides in its global expansion. Construction is underway on Bally's permanent gaming destination in Chicago, featuring 3,400 slots, 170-plus table games, and a 500-room hotel tower. The company is also advancing its $4bn Bronx casino resort proposal [2].
Bally's has also made a strategic investment of A$200m (€111.8m) in Star Entertainment, further solidifying its position in the global gaming industry [3].
Executive at Bally's, Reeves, terms the company's evolution as "Bally's 2.0", aiming to create a global omni-channel provider of retail and online experiences [2]. With this transformative deal, Bally's is well on its way to realizing this vision.
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- The planned M&A deal between Bally's Corporation and Greek lottery operator Intralot will combine Bally's diverse international interactive gaming assets with Intralot's strong lottery technology, aiming to lead in lottery and digital gaming markets worldwide.
- The merged entity, expected to generate approximately €1.1 billion in revenues, will have over €1.4 billion in contracted lottery revenue through 2029, and will be backed by Bally's as the majority shareholder.
- Bally's Corporation, a leading name in the gaming industry, is not only focusing on its core US casinos and resorts operations, but also strengthening its footprint in interactive and lottery gaming globally.
- In North America, the interactive division of Bally's saw a 21.5% jump in revenue, boosted by the Queen interactive business and strong growth in iGaming and online sports betting.
- Bally's is making strategic investments in global gaming entities, such as the A$200m investment in Star Entertainment, and is constructing a permanent gaming destination in Chicago featuring slots, table games, and a hotel tower, further solidifying its position in the global gaming business.
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