Bally’s Intralot Revenue Jumps 34.8% in 2025
Bally’s Intralot reported revenue of €518.0 million for the year ending 31 December 2025, marking a 34.8% increase compared to the previous year, with growth primarily driven by the acquisition of Bally’s International Interactive.
Adjusted EBITDA reached €183.5 million, rising 40.4% year-on-year, with margins at 35.4%. Following its acquisition in October 2025, Bally’s International Interactive contributed €167.1 million in revenue and €67.0 million in EBITDA, significantly reshaping the group’s igaming and B2C revenue structure.
Segment performance showed strong expansion in B2C igaming and betting revenue, which climbed to €242.4 million from €92.3 million. In contrast, B2B revenue declined to €275.6 million from €292.0 million. The company reported that igaming and sports betting made up 45.2% of total revenue, while lottery operations remained the largest segment at 46.2%.
On a pro forma basis, including a full-year contribution from Bally’s International Interactive, total revenue reached approximately €1.09 billion, with adjusted EBITDA at €430.8 million, aligning with earlier expectations. The acquisition also influenced the group’s geographic distribution, with the UK emerging as its largest market in the fourth quarter.
By year-end, Bally’s Intralot held €246.7 million in cash and reported adjusted net debt of €1.49 billion, with leverage at 3.46x on a pro forma basis. Operating cash flow totaled €158.5 million, supporting integration efforts and ongoing investment.
The results highlight continued consolidation within the igaming sector, where acquisitions are being used to expand digital capabilities and strengthen B2C operations alongside established lottery businesses.
Chief Executive Officer Robeson Reeves described 2025 as a transformative year for the company, stating that the acquisition of Bally’s International Interactive has positioned the group as a major global player across igaming, lottery and sports betting, while improving scale, profitability and cash generation heading into 2026.
