Greece on Bally’s Intralot radar: Online gaming entry, rebrand and share buyback approved

Conditional interest in entering the Greek online gambling market was confirmed by the management of Bally’s Intralot, the group’s new corporate identity following the merger of Intralot and Bally’s Interactive, during the company’s extraordinary general meeting of shareholders.

With the completion of the integration, Bally’s Intralot has evolved into a fully fledged omni-channel operator, combining complementary strengths in technology, geographic reach and distribution channels, while building a solid platform for expansion into new B2C markets.

A key asset of the new group is Bally’s Interactive’s strong footprint in the UK iGaming market, where it ranks second in online casino, serving around 6 million registered users and delivering profit margins nearly double those of competitors. Its portfolio includes the highly recognisable Monopoly Casino brand.

Responding to questions from shareholders regarding a potential move into Greece as an online betting and casino operator, Chrysostomos Sfatos, Group COO and Board member, stated: “Bally’s Interactive has deep expertise in online gaming, and our intention is to replicate the successful UK model in markets where we believe we have a strong understanding and the right conditions to secure licences. Greece is a market we know well, and studies are under way to assess whether the necessary prerequisites are in place.”

The operational merger, completed in early October, has already begun generating tangible synergies, with the new model being rolled out in markets such as Croatia, while further expansion remains a strategic priority.

Management also briefed shareholders on developments in the United States, where Bally’s Intralot has recently secured new contracts and extensions. These include a new VLT monitoring contract in Nebraska, a 10-year extension with the Arkansas Lottery, and a next-generation lottery systems agreement with the Montana Lottery. Additional momentum is expected from the multi-state jackpot game, recently joined by Ohio, significantly boosting transaction volumes.

At the corporate governance level, the extraordinary general meeting approved a share buyback programme, with purchases to be made at prices ranging from €0.80 to €1.50, covering up to 10% of the company’s paid-up share capital, equivalent to 186.78 million shares, and running from 19 December 2025 to 19 December 2027.

Commenting on the decision, Giannis Papavasileiou, Board member of Intracom Holdings, said: “Despite negative developments in the UK related to taxation, we have high expectations for the company, which is why we decided to proceed with a share buyback programme.”

Shareholders also formally approved the change of the company’s name to “Bally’s Intralot”, the conversion of its duration to indefinite, the codification of the Articles of Association, and the option to allocate treasury shares to employees.

With a strengthened international presence and a broadened business model, Bally’s Intralot now has Greece firmly on its strategic radar, signalling potential developments in the country’s rapidly evolving online gaming market.

Source: pagenews.gr