Bally’s Intralot Delays Evoke Takeover to Q1 2027 While Reporting Nearly 250 Percent Q3 Revenue Growth

Bally’s Intralot confirmed its acquisition of evoke will not be completed before the year is out. Additional regulatory approvals and a Gibraltar court sanction hearing are expected to conclude by the first quarter of 2027.

The Athens-listed group reported Q3 revenue of €286.1m, nearly 250 percent above the €81.9m posted in Q3 2025. Revenue for the first nine months rose from €263.9m to €830.3m. Adjusted EBITDA increased from €29.9m to €88.9m in the quarter and from €90.1m to €273.6m over the nine-month period.

UK and Spain Deliver Growth Despite Duty Headwinds

UK online revenue advanced 12.2 percent year-on-year, pushing net gaming revenue to an all-time high for the third straight quarter. The Remote Gaming Duty rise cut adjusted EBITDA by €34m in the period, with 55 percent offset by top-line growth, marketing efficiency and cost controls. Further rises in General Betting Duty and Machine Games Duty will intensify pressure once the evoke deal closes.

Spain produced record Q3 revenue of €13.3m, up 18.9 percent. US revenue for the year has fallen 11 percent to €119.6m on lower lottery sales and equipment revenue, though B2C operations in Spain and Argentina performed solidly. As reported by SBC News, these regional results arrive as the evoke transaction remains pending.

Acquisition Timeline and Debt Management Priorities

Adjusted net debt remained “broadly stable” over the last three months, rising slightly from €1.619bn at the end of June to €1.63m at the end of September. The figure is up by €130m since the start of 2026, with the main cause being the company’s €85m investment in the 15-year monitoring license in Victoria, Australia, awarded in April 2026. In July the company closed a three-year £261.8m loan from institutional lenders and drew the initial £157.1m to back the acquisition and refinance existing facilities.

Robeson Reeves, CEO of Bally’s Intralot, has maintained an optimistic stance on integrating the 888 and William Hill businesses. The delayed closing gives the operator additional quarters to refine cost offsets and monitor debt reduction before the UK duty changes fully apply to the enlarged group. The sequence underscores the need for precise execution on efficiency measures to protect margins in a higher-tax environment.