The Greek gaming technology firm Intralot has successfully secured €660 million (US$776 million) in new, long-term debt financing to support its planned €2.7 billion acquisition of Bally’s International Interactive business.
The move is a critical step in finalizing the transformative deal, which is expected to close before the end of 2025.
The financing package is composed of several key elements, including a €460 million six-year senior secured term loan with institutional lenders, and €200 million in binding commitments for a four-year amortizing term loan from a consortium of Greek banks.
Intralot has also reached an agreement with holders of its €130 million retail bond that the bond may remain outstanding after the transaction is complete.
All the newly raised funds are designated for the acquisition, which will see Intralot become the majority shareholder in the combined entity, creating a new global leader in iGaming and lottery with projected revenues of €1.1 billion.
The reverse-style merger is a strategic move for both companies. It provides Intralot with a powerful and established digital gaming and data technology arm, while bolstering Bally’s cash reserves as it funds major land-based casino developments in the US and Australia.
The new leadership structure will see Bally’s CEO Robeson Reeves take over as the CEO of the combined group, with Intralot’s Nikolaos Nikolakopoulos leading the lottery division.
Robeson Reeves commented on the vision behind the merger when the deal was first announced.
This transaction marks a transformative moment for Bally’s as we unite our outstanding gaming and data technology with Intralot’s exceptional expertise in lottery. Together, we are creating a unique proposition that will pave the way for a new era of innovation and growth across the entire gaming spectrum.
Soohyung Kim, Chairman of Bally’s and Vice Chairman of Intralot’s board, also shared his view on the deal’s strategic importance.
This is a tremendous statement of intent that signals Bally’s strong commitment to establishing a global lottery and online gaming champion.
