Bally’s Intralot reports 12.2% UK online growth despite higher duty
The group estimated the duty increase cost adjusted earnings about €34 million in the quarter before offsets. Its proposed acquisition of evoke awaits further approvals.
Key points
- UK online revenue rose 12.2% year on year in constant currency in the third quarter of 2026.
- The company estimated the gross quarterly earnings impact of higher UK duty at about €34 million.
- Spain’s online revenue increased 18.9% to €13.3 million in a record quarter.
- Remaining approvals for the evoke acquisition are expected by the first quarter of 2027.
Bally’s Intralot reported a 12.2% year-on-year increase in UK online revenue in the third quarter of 2026, measured in constant currency, as the company continued to absorb the effects of a higher gambling duty.
The Athens-listed group said on 10 November that its UK growth rate had accelerated from 10.5% in the first quarter and 11.6% in the second. European Gaming reported that the latest increase came alongside lower marketing spending and a quarterly high for UK net gaming revenue.
The UK’s Remote Gaming Duty increased from 21% to 40% on 1 April 2026. Bally’s Intralot estimated that the increase reduced adjusted EBITDA by about €34 million in the third quarter before offsets, matching its estimate for the second quarter.
The company said revenue growth, marketing efficiencies and cost controls offset about 55% of the third-quarter impact. For the nine months, it estimated the duty increase cost about €68 million, with nearly half offset.
In Spain, online revenue rose 18.9% to €13.3 million during a record quarter. The company said earnings at its online business, Bally’s International Interactive, would have increased 14.4% without the UK duty rise.
Group revenue reached €286.1 million in the third quarter, compared with €81.9 million a year earlier, while adjusted EBITDA rose to €88.9 million from €29.9 million. The figures are not directly comparable because Bally’s International Interactive joined the group on 8 October 2025.
Nine-month adjusted EBITDA was €273.6 million, down from €320.8 million on a pro forma basis that includes the online business for all of 2025. The duty increase was the largest factor in the decline.
Bally’s Intralot is also pursuing its agreed acquisition of evoke, which owns William Hill and 888. Shareholders of both companies have approved the transaction, and some competition and regulatory conditions have been met.
The remaining gaming regulatory approvals and a court sanction hearing in Gibraltar are expected to conclude by the first quarter of 2027. When the offer was announced in June, the company expected completion in the fourth quarter of 2026 or the first quarter of 2027.
Sources
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