Bally's lands key regulatory approvals related to the Intralot S.A. deal

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Bally's Corporation (NYSE:BALY [https://seekingalpha.com/symbol/BALY]) updated investors on the progress on its previously disclosed transaction agreement with Intralot S.A. (OTCPK:IRLTF [https://seekingalpha.com/symbol/IRLTF]) (OTC:IRLTY [https://seekingalpha.com/symbol/IRLTY]).

Under the terms of the deal, Intralot (OTCPK:IRLTF [https://seekingalpha.com/symbol/IRLTF]) (OTC:IRLTY [https://seekingalpha.com/symbol/IRLTY]) is set to acquire all issued and outstanding capital stock of Bally's (NYSE:BALY [https://seekingalpha.com/symbol/BALY]) Holdings Limited. That subsidiary holds Bally's (BALY [https://seekingalpha.com/symbol/BALY]) international interactive business. The expected closing of the transaction in Q4 will result in Bally’s (BALY [https://seekingalpha.com/symbol/BALY]) becoming the majority shareholder of Intralot. The deal is structured so that while Intralot takes direct ownership of the international interactive assets, control of the combined global entity shifts to Bally's (BALY [https://seekingalpha.com/symbol/BALY]), meaning it will have influence over Intralot's broader operations.

On August 14, Bally's (BALY [https://seekingalpha.com/symbol/BALY]) received notifications from the Gambling Commission of Great Britain confirming that, contingent on routine ongoing requirements, its UK licenses (held by Gamesys Limited, Bally’s (Newcastle) Limited, and Gamesys Operations Limited) will remain in effect after the transaction closes. The regulatory approval addresses a critical hurdle and clears a path for finalizing the transaction.

The deal with Intralot (OTCPK:IRLTF [https://seekingalpha.com/symbol/IRLTF]) (OTC:IRLTY [https://seekingalpha.com/symbol/IRLTY]) is seen by analysts as transformative for Bally's (BALY [https://seekingalpha.com/symbol/BALY]) which has been repositioning itself as a global digital gaming and interactive entertainment player. By integrating with Intralot’s established international operations and technology, Bally’s (BALY [https://seekingalpha.com/symbol/BALY]) expects to broaden its global reach and strengthen its digital platform, especially in regulated European and emerging markets.

Intralot (OTCPK:IRLTF [https://seekingalpha.com/symbol/IRLTF]) (OTC:IRLTY [https://seekingalpha.com/symbol/IRLTY]) is a Greek-based, publicly listed global gaming technology company that provides gambling systems, sports betting management, interactive gaming services, and omnichannel lottery solutions to state-licensed operators in over 39 countries. The company is best known for lottery modernization, digital transformation, and responsible gaming.

Shares of Bally's (BALY [https://seekingalpha.com/symbol/BALY]) were down 1.6% in premarket trading on Friday.

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