Bally's Corp (BALY): M&A transaction — Bally's completes sale of International Interactive to Intralot for €2.7B; becomes 58% owner

Bally's Corp

Enterprise value of €2.7B; Bally's receives €1.53B cash and 873.7M new Intralot shares valued at €1.136B.
Bally's now holds 58% equity stake in Intralot, becoming majority shareholder.
Combined entity expected ~€1.1B annual revenue with >39% EBITDA margin.
Bally's intends to allocate at least $1.0B of after-tax cash proceeds to reduce secured debt.
Transaction closed Oct 8, 2025; Bally's CEO calls it a milestone unlocking significant liquidity.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Bally's Corp completed a disposition involving Intralot S.A. for €1.53 billion in cash and €1.136 billion in newly issued Intralot shares (closed 2025-10-08).

Action: disposition
Counterparty: Intralot S.A.
Consideration: €1.53 billion in cash and €1.136 billion in newly issued Intralot shares
Closing: 2025-10-08

Exact text from the filing

now been acquired by Intralot in exchange for consideration comprised of (subject to certain customary agreed adjustments for net debt, working capital and transaction expenses) €1.53 billion in cash and €1.136 billion in newly issued Intralot shares (873,707,073 shares at an implied value of €1.30 per share). With the completion of the transaction, the Company has

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Source: SEC EDGAR

accession 0001747079-25-000126

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