Intralot-Bally’s transaction completed in a market worth 200 billion euros

The day after the completion of the Intralot – Bally’s deal leads to the creation of a global champion in the lottery and iGaming industries with enhanced economies of scale, differentiated and highly complementary products in the B2G, B2B and B2C sectors.

In summary, under the transaction, Intralot acquired Bally’s International Interactive from its parent company Bally’s Corporation  at a valuation of 2.7 billion euros. The name of the new company will be announced in the near future and according to information it will certainly include both corporate protagonists, Intralot and Bally’s.

According to the terms of the transaction, the consideration to Bally’s consisted of 1.530 billion euros in cash and 1.136 billion euros in newly issued Intralot shares (873,707,073 shares, at an issue price of 1.30 euros per share).

Combined with Bally’s Corporation’s pre-existing participation in Intralot’s share capital of 207,534,878 shares, Bally’s Corporation now holds approximately 58% of Intralot’s total share capital, becoming the majority shareholder of the company, which will continue to be listed on the Athens Stock Exchange.

ΔΙΑΒΑΣΤΕ ΕΠΙΣΗΣ

Σπάνιες γαίες, σπάνια ισχύς: Πώς η Κίνα παίζει το τελευταίο της χαρτί έναντι των ΗΠΑ

The announcement of the completion of the acquisition of Bally’s International Interactive by Intralot was made one day after the listing of Intralot’s new shares, due to the increase in the company’s share capital, which essentially completed the financing cycle (bond, debt, share capital increase) for this specific transaction.

The completion of the transaction was made possible thanks to the successful implementation of the extensive financing package of the acquisition and the fulfillment of the required corporate and regulatory approvals, as well as the fulfillment of other formal conditions.

A transaction which, according to the management of the Greek company, combines Bally’s International Interactive’s activity with Intralot’s global activity in the lottery and iGaming sectors, giving the new company a significant lead in a potential market estimated to approach 200 billion euros worldwide by 2029.