It’s not a bad or good first half of the year for Intralot, a gambling technology company based in Greece. The company, which as of 2023 has 1700 employees, posted a stagnant revenue report, which only grew by 1.7% year-on-year.
While the business hasn’t grown, it’s still a net positive period for Intralot. The company has begun to look into the future, rather than just the present. As such, it plans to enhance its results with the acquisition of Bally’s Interactive for 2.7 billion Euros ($2.8 billion).
The deal is expected to close in the fourth quarter of 2025, which will be split between a €1.53 billion cash payout and 873,707,073 shares priced at €1.30. This will make Bally’s the leading shareholder in the Intralot business.
Speaking in the report, Intralot chairman, Sokratis P. Kokkalis, said:
“INTRALOT’s results for the first half of 2025 reflect stable financial performance in terms of revenue and operating profitability, strengthened cash flows, and a significant reduction in debt and leverage.
“At the same time, Intralot has announced a pivotal strategic decision to acquire Bally’s International Interactive, which will transform the company by enhancing its growth capabilities in the modern digital environment and substantially expand its financial scale.”
Intralot expands its lottery offerings
On looking to the future, the company has renegotiated its deal with the Idaho Lottery to extend its deal for another decade. This will take effect in two years, September 2027. It will also continue to work with the Montana Lottery for a “next-generation lottery operating system” and other services. This partnership has lasted nearly 20 years, with the new contract extending it another seven years “with three one-year extension options.” In July, it was also selected to work on the Montana Lottery.
At the top of the year, Intralot was fined $6.5 million after it was found to violate Washington, D.C., contracting laws. D.C. requires large contracts to also involve smaller firms, keeping businesses alive. However, Intralot partnered with what was essentially a shell company, resulting in the fine.
