Intralot SA has notified the Athens Stock Exchange (ATHEX) that it has divested its entire stake in the Parnitha Casino for €8m.
The Athens-listed lottery and gaming technology group confirmed an agreement with Larimar Services Inc. to sell 100% of the shares it held in Karenia Enterprises, the vehicle through which Intralot controlled its participation in the Parnitha Casino, located on Mount Parnitha in Athens.
Cyprus-based Karenia Enterprises held a 30% stake in Athens Resort Casino SA, a shareholding won via state concession in 2018 and part of the ownership chain of the Parnitha Casino.
The transaction completes Intralot’s exit from all Greek land-based casino activities, leaving the company with no remaining interests in either the Parnitha Casino or its operating structures.
In its notice to ATHEX investors, the company stated: “The disposal aligns with INTRALOT’s strategic pivot toward lotteries and iGaming, following its major acquisition of Bally’s International Interactive on 8 October 2025.”
In October, Intralot announced the completion of its €2.7bn acquisition of Bally’s International Interactive, the global digital arm of Bally’s Corporation. The deal significantly expands Intralot’s B2C and B2B online gambling operations, integrating major consumer brands such as Jackpotjoy and Virgin Games, while adding a portfolio of exclusive gaming IP.
New Intralot takes shape
As part of the acquisition structure, Bally’s Corporation will retain an equity stake in the enlarged Intralot Group, ensuring continued alignment between the two companies as the combined digital and lottery operation moves forward.
Bally’s will become a long-term strategic shareholder, granting Intralot access to Bally’s global digital expertise while allowing Bally’s to benefit from Intralot’s established lottery footprint, international B2B relationships, and regulated-market infrastructure.
The retention of ownership is viewed by dealmakers as a mutual value driver as to ensure all parties and investors are rewarded from the future growth of an enlarged Intralot viewing market share gains in existing European markets and rapid expansion in North American lotteries.
The shared ownership model is expected to support synergies of +€100m and strengthen the company’s position as a hybrid global operator spanning lottery solutions, online casinos, and iGaming platforms.
Dealmakers have begun the integration phase to ensure the combined group reaches its projected €2.7bn corporate valuation and delivers the targeted synergies.
Last week, Intralot confirmed that the enlarged digital-first group will be led by Robeson Reeves as Group CEO, the former head of Bally’s International Interactive. Entering a new era for the business, Sokratis Kokkalis, Co-Founder and long-time CEO of Intralot, will remain Chairman of the Board.
Intralot will continue as an Athens-listed gambling group and has secured €1.6bn in bond commitments to finance the Bally’s International Interactive acquisition.
