The deal will expand Greek company Intralot’s presence in the UK online gaming market and strengthen its technology offerings by incorporating Bally’s digital and casino platforms.
The deal, which is expected to close in the fourth quarter, includes €1.53 billion in cash and €1.14 billion in newly issued Intralot shares for Bally’s shareholders.
Following the transaction, Intralot founder Sokratis Kokkalis will retain a significant stake, while Bally’s will become the majority shareholder.
Following this announcement, Bally’s shares rose nearly 20% to $11.49.
Source: Reuters