Bally’s Corporation completed the sale of its international technology division to Greek lottery operator Intralot S.A. in a merger that positions both companies to expand their global reach.
The valued €2.7 billion ($3.2 billion) acquisition was first announced in July and finalized Thursday after Intralot sent €1.53 billion in cash and €1.136 billion of newly issued shares to Bally’s. The transaction, which included a €429-million issue of new ordinary shares Wednesday, gives the U.S. gaming operator 58% equity interest in the Greek gaming company and creates the new Bally’s Intralot.
“This is a milestone transaction for Bally’s,” said Robeson Reeves, Bally’s CEO. “We have unlocked significant liquidity in a key asset while establishing an even stronger platform for digital growth.”
