04:17 PM EDT, 07/01/2025 (MT Newswires) -- Bally's (BALY) agreed to sell its International Interactive business to Intralot for 2.7 billion euros ($3.18 billion) in cash and stock.

Bally's will receive 1.53 billion euros in cash and 1.136 billion euros in newly issued Intralot shares, thereby becoming the majority shareholder of Intralot.

Bally's Chief Executive Officer Robeson Reeves is expected to become Intralot's new CEO, while Nikolaos Nikolakopoulos, Intralot's current CEO, will lead its lotteries division, the companies said Tuesday in a statement.

Intralot secured up to 1.6 billion euros in debt financing from major banks, including Goldman Sachs (GS) and Deutsche Bank (DB), and plans a 400 million euro equity offering on the Athens Stock Exchange

The deal is expected to close in Q4.

Bally's secured a $500 million debt facility and a $100 million delayed draw facility, both backed by lender commitments. Together with transaction proceeds, the funds will be used to repay existing secured debt.

Bally shares jumped 18% in regular trading Tuesday and gained 0.7% in after-hours trading.

Price: 11.32, Change: +1.74, Percent Change: +18.16