NEW YORK, NY, July 1, 2025 — Intralot S.A. (ATSE: INLOT) and Bally’s Corporation (NYSE: BALY) today announced that their respective Boards of Directors approved their entry into a definitive transaction agreement pursuant to which Intralot will acquire Bally’s International Interactive business in a cash-and-shares transaction that values the International Interactive business at an enterprise value of €2.7 billion.
The consideration for the acquisition of the International Interactive business will comprise a combination of cash paid by Intralot and newly issued shares delivered by Intralot to Bally’s. Bally’s, currently Intralot’s largest shareholder, is expected to become the majority shareholder of Intralot as a result of the transaction with a significant equity stake in Intralot.
Following the completion of the transaction, Intralot is expected to be among the largest companies by market capitalization listed on the Athens Stock Exchange.
Milbank LLP is serving as legal counsel to Intralot, with a deal team led by Corporate Finance and Securities partner Apostolos Gkoutzinis, Global Corporate/M&A partner Iliana Ongun, and Corporate Finance and Securities partners Ana Grbec and Rebecca Marques with Tax partners Alan Rafferty, Max Goodman and Andrew Walker; Antitrust partners Andrea Hamilton and Fiona Schaeffer; Executive Compensation and Employee Benefits partner Mike Shah; Transportation and Space partner Bijan Ganji; and Environmental partner Matthew Ahrens.
The team also included Corporate Finance and Securities associate Dimitris Krokos; Global Corporate/M&A associates Sarah Griffin, Lisa Koo, Emilie Blicher, Tim Terhaar and Abigail King in New York and Daniel Woods and Drew MacDonald in London; Corporate Finance and Securities special counsel Melanie Probst and associates Stefanos Serfas, Russell Feinman and Maria C. Schweinberger; Tax associates Freddy Pilkington and Michelle Song and law clerk Chris Gatzke; Antitrust special counsel Alexis Brown-Reilly and associate Mariella Montplaisir Bazan; Executive Compensation and Employee Benefits special counsel Dustin Stark and Jameson Frazier; Technology partner Nicholas Smith; Intellectual Property special counsel John Garces; and Transportation and Space associate Brian Murff.
ABOUT MILBANK
Milbank LLP is a leading international law firm that provides innovative legal services to clients around the world. Founded in New York over 150 years ago, Milbank has offices in Frankfurt, Hong Kong, London, Los Angeles, Munich, New York, São Paulo, Seoul, Singapore, Tokyo and Washington, DC. Milbank’s lawyers collaborate across practices and offices to help the world’s leading commercial, financial and industrial enterprises, as well as institutions, individuals and governments, achieve their strategic objectives. To learn more about Milbank, please visit www.milbank.com and follow us on LinkedIn and Instagram.
