Intralot steps closer to Bally deal with financing agreement

Summary

Intralot has secured new long-term debt financing totalling €660m as it advances its planned acquisition of Bally’s Corporation’s International Interactive business. The package comprises a €460m six-year senior secured term loan with institutional lenders and €200m in binding commitments from a Greek bank consortium for a four-year amortising term loan. Intralot is also launching senior secured notes and already has debt commitments from major banks to support the wider €2.7bn cash-and-shares transaction. The acquisition remains subject to shareholder, regulatory and customary closing approvals, with completion expected in Q4 2025.

Key Points

€660m new financing split: €460m six-year senior secured term loan + €200m four-year amortising loan from Greek banks.
Intralot plans an €850m senior secured notes offering to help fund the Bally’s International Interactive purchase and refinance debt.
The full transaction values at €2.7bn: €1.53bn cash and €1.136bn in newly issued shares.
Existing commitments from Citizens Bank, Deutsche Bank, Goldman Sachs and Jefferies for up to €1.6bn remain in place to support the cash consideration.
Bally’s CEO Robeson Reeves is set to become Intralot CEO post-transaction, signalling management integration as part of the deal.
Completion targeted for Q4 2025, subject to shareholder approvals and regulatory clearances.

Content Summary

The article reports that Intralot has taken a material step towards closing its acquisition of Bally’s International Interactive arm by lining up €660m of long-term debt financing. The funding is intended to finance part of the acquisition and to repay existing indebtedness. This sits alongside an announced €850m senior secured notes offering and prior bank commitments for up to €1.6bn that together underpin the €1.53bn cash element of the €2.7bn deal. The combined group aims to merge Intralot’s lottery expertise with Bally’s international iGaming operations. The transaction is dependent on standard closing conditions and regulatory approvals, and remains planned for completion in the fourth quarter of 2025.

Context and Relevance

This is a major consolidation move in the igaming and lottery sectors: blending a lottery-focused, Athens-listed operator with Bally’s international interactive business creates scale, cross-sell opportunities and a broader product set. The financing structure shows lenders’ willingness to back sizeable sector deals, while the planned notes offering indicates Intralot’s intent to tap capital markets to finalise the refinancing. For competitors, suppliers and investors, this signals accelerating M&A activity and the potential reshaping of European and international igaming supply dynamics.

Author

Punchy: This is sizeable and strategic — not just another buyout. If it closes as planned, Intralot could leap from regional lottery operator to a global igaming heavyweight. Read the detail if market position, debt structure and leadership changes matter to you.

Why should I read this

Quick and real: if you’re following igaming M&A, financing trends or who’s running the big players, this is worth a skim. It shows who’s backing the deal, how it’s being paid for, and why the combined group could change competitive dynamics — all in one tidy update.

Source

Source: https://igamingexpert.com/regions/europe/intralot-bally-deal-financing/