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Bally’s Corporation (NYSE:BALY) announced Friday that it has received notifications from the Gambling Commission of Great Britain confirming that the licenses held by its three UK licensees—Gamesys Limited, Bally’s (Newcastle) Limited, and Gamesys Operations Limited—will remain effective following the closing of its previously announced transaction with Intralot S.A.
The company disclosed in a statement that this approval, received on August 14, is subject to customary conditions, including the absence of material changes to information previously provided to the Commission. The approval satisfies an important regulatory condition for the closing of the transaction. With a current debt-to-equity ratio of 9.1x and total debt of $5.7 billion, this transaction comes at a crucial time for Bally’s.
As previously reported in a press release dated July 21, Bally’s entered into a transaction agreement with Intralot S.A., a Greek publicly listed company. Under the agreement, Intralot will acquire all issued and outstanding capital stock of Bally’s Holdings Limited, the subsidiary that holds Bally’s International Interactive business. Upon completion, Bally’s is expected to become the majority shareholder of Intralot.
The transaction is expected to close in the fourth quarter of 2025, subject to the satisfaction or waiver of remaining mutual closing conditions, including additional regulatory approvals.
This information is based on a press release statement and Bally’s filing with the Securities and Exchange Commission.
In other recent news, Bally’s Corporation announced that it has entered into a definitive agreement with Intralot S.A. for the sale of its subsidiary, Bally’s Holdings Limited, which operates its international interactive business. This transaction is valued at approximately €2.7 billion, with Bally’s set to receive €1.53 billion in cash and shares from Intralot, making Bally’s the majority shareholder in the Greek company upon completion. Additionally, Bally’s Corp is preparing to provide consolidated financial statements for its Bally’s International Interactive business for the years ending December 31, 2024, and 2023, in anticipation of this deal closing in the fourth quarter of 2025.
Bally’s Corporation also recently completed its first Community Investment Program for the Bally’s Chicago casino and resort project, attracting nearly 1,800 local investors, including 1,007 Chicago residents. Meanwhile, Stifel has lowered its price target for Bally’s stock from $12 to $10, maintaining a Hold rating. This adjustment follows Bally’s reporting a 3% miss on second-quarter adjusted EBITDAR, with its Casinos & Resorts segment underperforming expectations for the seventh time in eight quarters. Despite the challenges, Stifel continues to hold its rating, reflecting cautious optimism amid the ongoing Intralot transaction.
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