Intralot Appoints Robeson Reeves as Group CEO Following Bally’s Interactive Acquisition

The appointment was confirmed during a board of directors meeting last week, with Reeves succeeding Nikolaos Nikolakopoulos, who transitions to the role of president. Chrysostomos Sfatos will serve as chief operating officer in the restructured executive team.

Reeves, who previously served as CEO of Bally’s International Interactive, brings extensive experience in gaming technology and operations to his new role. His appointment was agreed upon in July 2024 when Intralot and Bally’s announced the €2.7 billion acquisition, which closed in October.

Board Restructuring and New Composition

Alongside Reeves’ CEO appointment, Intralot’s board of directors underwent changes with the resignation of Konstantinos Farris, the company’s group chief technology officer. Reeves has been elected to fill the vacant board position.

The reconfigured board now includes Sokratis Kokkalis, Intralot’s founder and majority shareholder, as chairman. Soohyung Kim, managing partner and chief investment officer of Standard General, serves as vice chairman. The board comprises both executive and independent non-executive members, including Vladimira-Donkova Mircheva, partner and research analyst at Standard General and CFO of Bally’s.

Nikolakopoulos will lead the lottery division in his new capacity as president, focusing on the segment that contributed 53% of Intralot’s revenue in the first half of 2024.

Strategic Transaction Creates Combined Entity

The completed acquisition positions Intralot as a significant digital gaming operator and technology provider for lottery solutions across Europe and North America. The transaction saw Bally’s acquire Intralot’s technology business while becoming the company’s majority shareholder through a reverse-style merger structure.

The combined entity generates approximately €1.1 billion in annual revenue, creating a platform for expansion in gaming and lottery sectors worldwide. Intralot secured a €660 million financing package to complete the acquisition, consisting of a €460 million six-year senior secured term loan and €200 million in binding financing commitments from a Greek bank consortium.

“This transaction marks a transformative moment for Bally’s as we unite our outstanding gaming and data technology with Intralot’s exceptional expertise in lottery. Together, we are creating a unique proposition that will pave the way for a new era of innovation and growth across the entire gaming spectrum.”

The deal provides Bally’s with improved cash reserves to support land-based casino development projects across the United States and Australia, while giving Intralot access to Bally’s technology capabilities and market presence.

Bally’s Reports Q3 Revenue Growth

Bally’s announced third-quarter earnings showing revenue increased 5.4% year-over-year to $663.7 million. UK online revenue grew 8%, though international interactive revenue declined 6.9% due to the sale of the company’s Asia interactive business in late 2024.

Reeves commented on the strategic value of the Intralot partnership, describing the creation of a “scaled, global omnichannel provider of retail and online experiences.”

“We continue to demonstrate strategic and prudent use of our capital resources to drive growth and returns for our stakeholders. Combined with our operational expertise and long-term vision, we are eagerly and aggressively pursuing the many growth opportunities before us.”

The combined organization plans to prioritize UK market expansion while pursuing B2C iGaming, sports betting, and iLottery opportunities across regulated markets. The partnership allows revenue diversification beyond Bally’s UK-dominant operations, capitalizing on Intralot’s presence in multiple jurisdictions.

Source: Intralot