Intralot S.A. (INLOT) and Bally’s Corporation (BALY) announced that their Boards of Directors have approved a definitive transaction agreement.
Under this agreement, Intralot S.A. will acquire Bally’s International Interactive business through a cash-and-shares transaction.
The deal values the business at €2.7 billion via newly issued shares by Intralot S.A. and the company plans to refinance a portion of its existing debt facilities as part of the transaction.
Bally’s Corporation will use the cash proceeds to repay secured debt.
Upon completion, Intralot S.A. is expected to emerge as a leading digital gaming operator and technology provider for lottery products.
The company will establish a presence in key markets across Europe and North America.
