Bally’s Restructures Operations as Q4 Revenue Reaches $746.2m Following Intralot Deal

Bally’s has reported group revenue of $746.2 million for the fourth quarter of 2025, reflecting a significant shift in its reporting structure after the completion of Intralot’s €2.7 billion acquisition of Bally’s International Interactive.

As part of this transition, the company now consolidates the combined entity into its financial results while maintaining a 58% controlling stake.

The restructuring, finalized in October, replaces the former International Interactive segment with two new divisions: Bally’s Intralot B2C and Bally’s Intralot B2B. This updated framework has been fully incorporated into Bally’s profit and loss reporting, altering how the company presents its interactive business performance in quarterly disclosures.

Growth in the B2C segment played a central role in the quarter’s performance. Revenue for the division reached $236.5 million, up from $207.6 million in the same period the previous year. In the UK, online revenue increased by 6.3% on a constant currency basis, driven by a rise in new player volumes and sustained strength in sports betting activity. Spain also recorded a 6.3% revenue increase, supported by improved long-term customer retention and a higher number of sports-focused new users. Bally’s noted that its UK igaming growth is already surpassing that of its closest competitors.

Profitability within the B2C segment also improved. Adjusted EBITDAR rose from $74.7 million to $93 million during the quarter. The company stated that it is well positioned to offset the impact of the upcoming increase in the UK remote gaming duty, which is set to rise from 21% to 40% in April. Management added that the current growth trajectory in UK igaming could help drive further gains in market share, supported by strengthening margins in the online business.

In North America, the interactive division delivered substantial year-on-year growth, with revenue climbing from $40.1 million to $62.3 million—an increase of 55.4%. The segment, which includes Bally Bet and operates across 14 jurisdictions, also saw a notable turnaround in profitability. Adjusted EBITDAR improved from a loss of $10.2 million in 2024 to a profit of $844,000 in the latest quarter.

Elsewhere, Bally’s reported B2B revenue of $80 million and land-based revenue of $366.2 million, highlighting continued strength in its retail operations alongside expanding interactive performance.

Commenting on the results, CEO Robeson Reeves said:“In summary, our strategic initiatives of the past year have created a scaled, growing, global omnichannel provider of retail and online experiences. We continue to demonstrate strategic and prudent use of our capital resources and balance sheet to drive growth and returns for our stakeholders. Combined with our operational expertise and long-term vision, we are aggressively pursuing and executing on the many growth opportunities before us.”

By fLEXI tEAM