Ballys Intralot Sa (IRLTF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, thank you for standing by. I am Mina, your Chorus Call Operator. Welcome and thank you for joining the Infralot Conference Call and Live Webcast to present and discuss the third quarter 2025 financial results. All participants will be in a listen-only mode and the conference is being recorded. The presentation will be followed by a question and answer session. Should anyone need assistance during the conference call, you may signal an operator by pressing star and zero on your telephone. At this time, I would like to turn the conference over to Mr. Robertson Reeves, CEO of Infralot. Mr. Reeves, you may now proceed. Thank you, Operator, and thank you all for joining us today for the Q3 results of Infralot. The transaction completed in October 2025 to bring together Bally's International Interactive and Infralot As you will have seen, Intralot has delivered strong third quarter results despite FX headwinds. Bally's International Interactive has delivered around €548 million in revenue with a hefty 43% adjusted EBITDA margin for Q3, which is on track with our stated guidance. Full year 2025 performer of the two entities annualized is more than €1 billion in revenues, and 435 million in adjusted EBITDA, with a combined margin of 40.65%, which is in line with previously stated full-year guidance. As you are aware, yesterday the UK government revised gaming taxes by increasing remote gaming duty from 21% to 40%, beginning in April 26. This was higher than anticipated, but we are going to follow the aggressive mitigation scenarios. We still intend to deliver growth in wages accepted, which combined with generosity reductions, marketing reductions, and accelerated synergies will limit the tax impact. However, this will delay our growth plan by one year ...