Greece · Delayed Price · Currency is EUR Bally's Intralot Earnings Call Transcripts
Fiscal Year 2025
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FY 2025 saw 34.8% revenue growth and 40.4% adjusted EBITDA growth, driven by BII acquisition and strong U.K. performance. 2026 EBITDA guidance of EUR 422 million is reaffirmed, with robust cash flow, disciplined capital allocation, and ongoing M&A discussions.
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2026 Adjusted EBITDA guidance of EUR 422 million is reaffirmed, supported by strong Q1 trading and robust mitigation of UK tax changes. FY 2025 saw a 39.7% margin, stable B2B, and expanding customer metrics, with ongoing deleveraging and capital returns.
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Strong Q3 results and successful acquisition of Bally's International Interactive drive robust margins, despite FX headwinds and a significant UK tax hike. Mitigation measures and synergies are expected to limit EBITDA impact to 4% in 2026, with growth prospects intact.
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A transformative merger creates a global iGaming and lottery leader with over €1 billion in revenue, industry-leading margins, and a robust technology stack. The group targets high single-digit revenue growth, rapid market expansion, and strong free cash flow, supported by disciplined capital allocation and resilient operations.
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H1 2025 saw stable revenue and EBITDA, strong cash flow, and improved leverage, with the Bally’s Interactive acquisition set to transform the business toward digital and B2C. U.S. and Argentina offset other regions, and a new capital structure is planned post-acquisition.
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A EUR 2.7 billion acquisition will create a global gaming leader with over EUR 1 billion in revenues, leveraging complementary B2B and B2C strengths, robust technology, and strong regulatory relationships. Cost synergies of up to EUR 40 million are expected within two years, with a focus on sustainable growth and financial resilience.
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Revenue grew 10.9% year-over-year, with stable EBITDA and strong cash flow, driven by international markets offsetting U.S. jackpot absence. Net debt and leverage improved, and management remains positive on the outlook, focusing on deleveraging and operational execution.
Fiscal Year 2024
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Revenue grew 3.6% year-over-year, with strong Q4 performance led by the U.S., Turkey, and Argentina. Adjusted EBITDA margin reached 35%, while net debt was reduced to EUR 355.7 million. Key tenders in Maryland, Missouri, and Illinois could drive future growth.
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Q3 2024 saw sequential improvement in revenue and EBITDA, but year-over-year declines due to the absence of a major US jackpot, FX headwinds, and contract changes. Organic growth in Turkey and Argentina, stable leverage, and new contract wins support a positive outlook, with Q4 performance hinging on jackpot activity.
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Stable H1 2024 results with strong growth in Turkey offsetting FX headwinds in Argentina and lower U.S. jackpot activity. Key contract renewals in Europe and a robust pipeline in North America and Australia support a cautiously optimistic outlook for H2.