Bally’s Intralot Grows UK Online Revenue 12% Despite 40% Duty as evoke Deal Heads Into 2027

^{A William Hill betting shop in Bristol. William Hill’s owner, evoke, is the target of Bally’s Intralot’s proposed takeover. (Photo: Lewis Clarke / Wikimedia Commons)}

Bally’s Intralot grew its UK online revenue by 12.2% year on year in the third quarter, on a constant-currency basis, even as the higher Remote Gaming Duty cut into profit. The group published its nine-month results in Athens on 10 November and said the proposed takeover of evoke plc is on track to complete by the first quarter of 2027.

The UK growth rate accelerated from 11.6% in the second quarter, the company said, despite lower marketing investment. UK net gaming revenue reached a new quarterly high, the third consecutive quarter of sequential growth.

How the Duty Rise Landed

Remote Gaming Duty on online casino rose from 21% to 40% on 1 April 2026. Bally’s Intralot put the gross hit to adjusted EBITDA at about €34 million in the third quarter, in line with the second, and about €68 million over the first nine months.

Measured year on year, around 55% of the third-quarter impact was offset through revenue growth, marketing efficiency and cost control, according to the company. Over nine months, the share of the UK tax increase mitigated was 48.5%.

The group said that, excluding the duty effect, adjusted EBITDA at Bally’s International Interactive, its online arm that includes the Gamesys brands, would have grown 14.4%. Spain was also a bright spot, with online revenue up 18.9% to a record €13.3 million in the quarter.

The Nine-Month Numbers

Group revenue came to €830.3 million for the nine months to 30 September, with adjusted EBITDA of €273.6 million and a margin of 33.0%. Bally’s International Interactive contributed €579.2 million of revenue and €195.6 million of adjusted EBITDA. The year-ago figures are not like for like, because that business was only consolidated from 8 October 2025.

The legacy Intralot business was softer. Its B2B revenue fell 8.1% to €191.0 million, with US revenue down 11.0% in constant currency to €119.6 million. The company pointed to lower lottery revenue after record jackpots boosted the prior-year period, plus reduced equipment sales.

On the balance sheet, total liquidity rose to €472.4 million at 30 September from €287.3 million at the end of June. Adjusted net debt was €1,629.9 million, broadly flat on the quarter, and adjusted net leverage stood at 4.33 times on a pro-forma basis.

The evoke Takeover Timetable

Bally’s Intralot announced its offer for the William Hill owner in June, a deal Casinos.com covered when it was confirmed at £243 million. Shareholders of both companies have since approved the transaction, and a number of competition and regulatory conditions have been satisfied.

The remaining gaming regulatory approvals and the Gibraltar court sanction hearing are expected to conclude by the first quarter of 2027. The company described the acquisition as progressing as scheduled. Earlier in the process, evoke had given the bidder more time to firm up its terms.

The deal would bring William Hill’s UK retail and online business under the same owner as Gamesys. For evoke, the sale follows a difficult stretch, with the group’s own recovery prospects questioned after a half-year slump.

In July, Bally’s Intralot also signed a new three-year senior secured sterling term facility of £261.8 million, about €306 million, to support its acquisition plans and refinance other debt. The first tranche of £157.1 million was drawn that month.