Bally’s Intralot CEO Robeson Reeves has said the operator is “active” in the M&A market as rumours swirl regarding a potential acquisition of evoke.
Speaking on Intralot’s full-year earnings presentation on Wednesday, 1 April, Reeves doubled down on his previous position that the new tax environment could see Bally’s, the owner of brands including Jackpotjoy and Bally Casino, become a consolidator.
Bally’s continues to be linked with debt-laden evoke, which owns William Hill, 888 and Mr Green, since the firm’s board confirmed on 10 December a strategic review would be undertaken.
That review could see evoke either sell off parts of the business or sanction a full sale.
Greek press linked Bally’s to a deal earlier this year, and speculation still suggests the company remains the most likely buyer of evoke’s digital operations.
Reeves said: “On M&A, the tax environment is creating very motivated sellers and we have the platform, the margin headroom and the management team to act on the right opportunities. We are active.”
Chrysostomos Sfatos, Bally’s Intralot COO, added: “We have said many times we are on the lookout for any opportunity that will contribute either organic or inorganic growth.
“Our appetite for M&A is there but on the condition we will be able to fulfil our financial policy goals, which includes first and foremost, our path to de-lever and the distribution to shareholders.”
Aside from B2C acquisitions, Reeves and his management team were asked about potential sports betting technology deals.
Kambi currently provides the tech for the Bally’s sportsbook, with the Stockholm-listed supplier’s product initially added to Jackpotjoy in 2024.
Bally Casino and the company’s igaming brands in Spain, Botemania and Monopoly Casino, and also offer sports betting.
Reeves noted: “We currently have an agreement with Kambi. We’re very happy with them.
“If we were to look at any opportunities out there, as we said, the UK market has become more attractive because of this trauma that has been created by the tax change.
“We would only consider things if we could see substantial cost-cutting opportunities, as well as synergies.
“I would not underestimate how strong our margin profile is versus peers in this space. We’ll be very diligent and ensure we protect our capital structure in whatever we do.”
Away from M&A, Reeves provided an update on Q1 trading that included UK revenue coming in at £147.9m, up approximately 10.5% year on year.
Reeves also announced the number of first-time depositors was up 59.4% compared with Q1 last year.
He continued: “Our B2C adjusted EBITDA margin was approximately 40% in Q4 2025. Most comparable operators are running below 25%.
“When [remote] gaming duty nearly doubles on gross gaming revenue, not profit, a 20% to 25% margin compresses to near zero. A 40% margin does not.”
Intralot acquired Bally’s International Interactive for €2.7bn, combining its B2B operations with the Bally’s B2C assets. The deal competed last October.
However, Bally’s, the Rhode Island-based casino operator, owns a majority stake in Intralot.
The post Bally’s is “active” in M&A amid wave of “very motivated sellers”, reveals CEO first appeared on EGR Intel.
Robeson Reeves positions the igaming-first operator as a consolidator in the UK as rumours linking the company with a move for evoke persist
The post Bally’s is “active” in M&A amid wave of “very motivated sellers”, reveals CEO first appeared on EGR Intel.