Intralot Offloads Greek Casino Interest for €8 Million

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Intralot has announced that it has sold its stake in Parnitha Casino in the Greek capital for a total consideration of €8.0 million ($9.3 million).

The group held shares in Karenia Enterprises Company, via which it controlled its participation in Athens Resort Casino. The latter is a shareholder of North Star, the entity that holds the license of the Parnitha Casino in Athens.

Shares were sold by the Intralot Global Holdings BV subsidiary to Larimar Services.

Located on Mount Parnitha, the site originally operated as the Hotel Mont Parnes. A casino was added in 1971 and while the hotel closed a few years later, the casino remained open.

Intralot Switches Focus with Bally’s Deal

In a short statement on the sale, Intralot said the deal fits in with its acquisition of Bally’s International Interactive division.

“The move reflects Intralot’s focus and future investments on the lottery and iGaming industry, following its strategic transaction, acquiring Bally’s International Interactive business,” Intralot said.

In July, Intralot struck a deal to acquire the US operator’s technology business. The reverse-style merger will see Bally’s become Intralot’s majority shareholder. The deal completed in October.

By acquiring Bally’s International Interactive, the group said it expects to create a global iGaming and lottery leader. This, it added, will have €1.1 billion in revenue.