Full Year 2025 Bally's Intralot SA Earnings Call Transcript
Key Points
- Ballys Intralot SA (FRA:9IL) reported a significant increase in group revenue for FY2025, reaching EUR518 million, up 34.8% year on year.
- The acquisition of Bally's International Interactive contributed significantly to the company's financial performance, with EUR167.1 million in revenue and EUR67 million of adjusted EBITDA at a 40.1% margin.
- The company achieved a pro forma 12-month revenue of EUR1.086 billion and adjusted EBITDA of EUR430.8 million at a 39.7% margin, in line with guidance.
- Ballys Intralot SA (FRA:9IL) has successfully integrated Bally's International Interactive, with a single leadership team and strategy, and is on track to achieve EUR15 million in synergies.
- The UK market showed strong performance with B2C NGR for Q1 2026 delivering approximately GBP147.9 million, up approximately 10.5% year on year, despite the increase in the UK remote gaming duty rate.
- The B2B segment experienced a decline, contributing minus EUR16.4 million, primarily driven by FX headwinds and lower merchandise sales.
- The company faces a EUR95 million impact from the UK remote gaming duty increase, which is a significant challenge to its financial performance.
- There is uncertainty surrounding the potential acquisition of Evoque plc, with no certainty that an offer will be made by the deadline of May 18, 2026.
- The company's net leverage ratio stands at 3.46 times on a pro forma basis, indicating a need for disciplined deleveraging over the medium term.
- The B2B legacy business experienced a decline of 6% excluding Bally's, with a 3.5% decline on a constant currency basis, driven by merchandise sales reductions.
Ladies and gentlemen, thank you for standing by. I'm Constantino, your Chorus Call operator. Welcome, and thank you for joining the Bally's Intralot conference call and live webcast to present and discuss the full year 2025 financial results. (Operator Instructions) The conference is being recorded. (Operator Instructions) At this time, I would like to turn the conference over to Mr.
Robeson Reeves, CEO of Bally's Intralot. Mr. Reeves, you may now proceed.
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Thank you, operator. Hello to everyone joining us today. Before I take you through the results, I want to address what you've already seen this morning. Evoque plc has published an announcement confirming that Bally's Intralot is in discussions with them regarding a possible offer with their entire share capital. An all-share combination with a partial cash alternative.
We have until the 18th of May 2026 to confirm our position. Firm offer or no offer. There is no certainty that an
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