Bally's Intralot (BYLOT) Q2 2026 TU earnings summary

Executive summary

• Group revenue for 1H26 reached €544.2 million, with AEBITDA at €184.8 million and a margin of 34.0%.

• The first half of 2026 fully consolidated Bally's International Interactive (BII), contributing €377.6 million in revenue and €132.8 million in AEBITDA.

• UK revenue momentum accelerated, with constant currency growth of 11.6% year-over-year in Q2 and NGR at an all-time high.

• The UK remote gaming duty increase from 21% to 40% in April 2026 impacted AEBITDA by €34.0 million in Q2, but 65% of the impact was mitigated through revenue growth and cost optimization.

• Pro forma twelve-month revenue was €1,060.8 million with AEBITDA of €399.9 million (37.7% margin).

Financial highlights

• 1H26 revenue rose to €544.2 million from €182.0 million in 1H25, driven by BII consolidation.

• 1H26 AEBITDA increased to €184.8 million from €60.2 million in 1H25.

• Excluding BII, like-for-like revenue declined 8.5% year-over-year to €166.5 million; legacy AEBITDA fell 13.6% to €52.1 million.

• Q2 2026 revenue was €276.1 million, up 3.0% sequentially; AEBITDA was €84.6 million, down from €100.2 million in Q1 due to UK tax hike.

• Levered free cash flow for the twelve months ended June 30, 2026, was €127.9 million.

Outlook and guidance

• Management expects continued strong trading performance, with recent contract wins in Australia, Chile, Greece, and Canada supporting future growth.

• The acquisition of evoke plc is progressing, pending regulatory and shareholder approvals.

• Financial flexibility is enhanced by a new £261.8 million term loan facility to support strategic plans and acquisitions.