Bally’s completes €2.7bn interactive division sale to Intralot
Bally’s Corporation has completed the sale of its international interactive division to Intralot, combining the business with Intralot’s lottery and gaming operations. The transaction values the division at about €2.7 billion; Bally’s received €1.53 billion in cash and new Intralot shares worth €1.136 billion, giving it a 58% stake in the combined company. Bally’s said it plans to use at least $1 billion of the proceeds to reduce secured debt.
The completed transaction changes Intralot’s ownership and gives Bally’s proceeds it says it will use partly to reduce debt.