Bally's Intralot Reports €286.1m Q3 Revenue
The gaming operator's third-quarter revenue rose sharply as it moves toward completing its planned acquisition of evoke.
Updated on Nov. 10, 2026 in Gambling
Bally's Intralot reported third-quarter revenue of €286.1m, up nearly 250% from €81.9m in the same quarter last year. Revenue for the first nine months of the financial year reached €830.3m, with adjusted EBITDA of €88.9m for the quarter.
Why it matters
The results show strong growth in the UK, Spain and Australia, but a fall in US revenue and rising debt highlight the financial pressures on the company. The planned acquisition of evoke will require further regulatory approvals before it can proceed.
Bally's Intralot's Q3 revenue reached €286.1m, nearly 250% above the €81.9m recorded in Q3 2025, and nine-month revenue totalled €830.3m. The company has not yet resolved how the planned rises in UK gaming duties will affect future adjusted EBITDA beyond the €34m impact already recorded this quarter.
The players
Bally's Intralot
A global gaming and lottery technology company that reported the quarterly results and is pursuing the acquisition of evoke.
evoke
A online gambling operator whose planned acquisition by Bally's Intralot is subject to regulatory approval.
The details
Adjusted net debt rose from €1.619bn at the end of June to €1.63bn at the end of September, mainly due to an €85m investment in a 15-year monitoring license in Victoria, Australia. The company also secured a three-year, £261.8m loan from institutional lenders in July.
Timeline
April 2026: Bally's Intralot was awarded the monitoring license in Victoria, Australia.
July 2026: The company secured a £261.8m loan from institutional lenders.
30 September 2026: Adjusted net debt reached €1.63bn.
Q1 2027: The evoke acquisition is expected to conclude, pending regulatory approvals and a Gibraltar court hearing.
Market Landscape
The UK Remote Gaming Duty increase has added a €34m cost to Bally's Intralot's quarterly adjusted EBITDA even as UK net gaming revenue hit an all-time high in its third sequential quarter of growth. Planned rises in General Betting Duty and Machine Games Duty are expected to add further cost pressure once the evoke acquisition is complete.
Investors tracking gaming stocks should note the rising debt load, which reached €1.63bn, alongside the revenue gains. The outcome of the evoke acquisition will determine whether the company's debt and duty exposure grow further.
The takeaway
Strong top-line growth can be offset by rising duties and debt, so the pace of cost increases is worth watching alongside headline revenue.
What happens next
Regulatory approvals for the evoke acquisition and a Gibraltar court sanction hearing are expected to conclude in Q1 2027.
Further reading
Explore more on Gambling for context on the regulatory and market forces shaping the industry.
