Intralot launches combined offering of new voting shares amid capital increase

ByBDG Game
INTRALOT launch

📢 Intralot Opens Share Offering to Fund Bally’s Interactive Acquisition

Date Announced: 3 October 2025

Offering Period (Greece): 3 business days, closing 3 October at 16:00 local time

🔑 Key Details of the Offering

  • Purpose: To fund part of Intralot’s €2.7 billion acquisition of Bally’s International Interactive

  • Shares Offered: 350–450 million new ordinary voting shares

  • Nominal Value: €0.30

  • Offering Price Cap: €1.27 per share

  • Distribution Channels:

    • Public Offer in Greece (for retail and qualified investors)

    • Private Placement (international institutional investors via book-building)

💼 Lead Financial Institutions

  • Joint Global Coordinators & Bookrunners:

    • Deutsche Bank

    • Goldman Sachs

    • Jefferies

  • Senior Bookrunner: Barclays

  • Co-Managers (Greece): Alpha Bank, Piraeus Bank, and others

📊 Financial Context

  • H1 2025 Revenue: €168 million (+1.7% YoY)

  • Net Debt (June 2025): €303 million, down from €338.2m in 2024

  • New Financing (Sept 2025):

    • €460m six-year senior secured loan

    • €200m amortisation financing from Greek banks

  • Retail Bond: €130 million remains outstanding

🧩 Strategic Rationale

  • The capital increase supports a transformational acquisition in the gaming sector

  • With Bally’s Interactive, Intralot strengthens its dual exposure to lottery and iGaming

  • CEO of Bally’s Corp, Robeson Reeves, called the merger a “perfect combo”

  • Once completed, Intralot will become the majority shareholder in Bally’s International Interactive

🔍 Market Implications & Investor Watchpoints

  • Priority allocation for existing shareholders encourages loyalty and reduces dilution backlash

  • The success of this capital raise is critical to funding the Bally’s deal — one of the largest sector M&As in recent years

  • Investor interest will signal confidence in Intralot’s new direction, including its financial discipline and strategic pivot toward integrated lottery + BDG Game

Similar Posts