According to information from Euro2day.gr, Bally’s Intralot has submitted an application for a license to operate online betting and other online games.
Specifically, the company has applied for both types of licenses provided for under the current regulatory framework. Type 1 license pertains to the operation of online betting and primarily covers fixed-odds betting games, such as sports betting, as well as potentially betting events where the player wagers on a specific outcome or event. The fee for obtaining a Type 1 license is estimated at 3 million euros, and its duration is seven years.
On the other hand, the Type 2 license pertains to the operation of other online games and primarily covers online casino games (RNG casino, live casino, roulette, blackjack, poker, etc.). Its cost is estimated at €2 million, and its duration is also seven years.
Bally’s Intralot is currently experiencing a particularly active period, as in the first quarter of the year it recorded revenue of €268.1 million and adjusted EBITDA (AEBITDA) of €100.2 million, with the relevant margin standing at 37.4%, while simultaneously confirming its target for adjusted EBITDA of approximately €422 million in 2026.
What the deal with evoke brings
Also, just last week the company announced the filing of a public tender offer to acquire evoke. In fact, as Bally’s Intralot CEO Robeson Reeves stated during the conference call with analysts, the merger of the two companies creates a group with revenues of approximately €3.2 billion and adjusted EBITDA of €856 million, corresponding to a margin of 27%, making it one of the global leaders in the online betting and gaming market.
At the same time, according to him, the company has identified cost and capital expenditure (capex) synergies of at least €210 million (180 million pounds), which are largely immediately realizable and stem from areas such as marketing, operations, and IT infrastructure.
Regarding the strategic rationale behind the agreement, management emphasized that it is expected to deliver the following benefits:
• Creation of a global leader in the gaming and lottery industry, with a strong pan-European presence in B2C and significantly expanded reach in locally regulated markets.
• A leading position in the United Kingdom, with a strengthened presence in sports betting through the addition of evoke’s leading brands and its customer base.
• Combining evoke’s iconic brands with Bally’s Intralot’s advanced data technologies to optimize the player experience.
• The transaction unlocks significant and immediately realizable synergies, creating value and substantially enhancing earnings accretion in the short term.
• Strengthened financial profile through the expansion of the group’s scale and further diversification of the product portfolio.
“All of this forms an exceptionally strong foundation for further profitable growth and value creation, with the prospects for the consolidated group being particularly attractive,” concluded Mr. Reeves.
It is worth noting that the acquisition is expected to be completed either in the fourth quarter of 2026 or the first quarter of 2027 and is subject to terms and conditions which, if not met or waived, may delay and/or prevent its completion.