Bally's Intralot has reported record online revenue in the UK, even as the higher rate of UK remote gaming duty took about €68 million out of its earnings in the first nine months of 2026, the company said on Tuesday, 10 November 2026.

The Athens-listed gambling group published preliminary results for the nine months to 30 September 2026, reporting group revenue of €830.3 million and adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of €273.6 million. Revenue in the third quarter alone was €286.1 million.

UK online revenue at an all-time high

UK online revenue rose 12.2% year on year in the third quarter on a constant currency basis, with net gaming revenue reaching a quarterly all-time high, the company said. Over the nine months, UK online revenue was up 11.4%. Growth accelerated through the year, from 10.5% in the first quarter and 11.6% in the second.

Spain also set a record. Online revenue there rose 18.9% in the third quarter to €13.3 million, helped by a larger active player base. Bally's International Interactive, the group's online arm, contributed €579.2 million of the nine-month group revenue.

The year-on-year group comparison is not like for like: Bally's International Interactive has been consolidated only since 8 October 2025, when Intralot completed its acquisition of the business. Group revenue a year earlier was €263.9 million.

The cost of the 40% duty

The UK raised remote gaming duty from 21% to 40% on 1 April 2026, and the increase has weighed heavily on the group's earnings. Bally's Intralot said the higher duty cost about €68 million of adjusted EBITDA over the nine months, including about €34 million in the third quarter.

The company said it offset 48.5% of the nine-month hit through revenue growth, marketing efficiency and cost control, and about 55% of the third-quarter hit. In the second quarter, when the duty rise first took full effect, the impact was also about €34 million, with roughly 65% mitigated.

Adjusted net debt stood at €1,629.9 million at 30 September, broadly unchanged from June, the company said.

Evoke takeover expected in early 2027

Bally's Intralot also said its takeover of Evoke, the owner of William Hill and 888, is expected to clear its remaining approvals and court sanction by the first quarter of 2027. The deal would add one of the UK's best-known betting brands to a group whose UK online business is already growing at double-digit rates despite the heavier tax burden.

The results show a UK online gambling market that is still growing for operators even after the duty rate nearly doubled. The question for the industry now is whether that growth can keep outpacing a tax rate that takes 40p of every pound of gross gaming yield. For Bally's Intralot, the third quarter suggests it can for now, with record revenue in Britain and Spain and more than half of the latest quarterly tax hit recovered through growth and savings.

Sources: iGaming Times and iGaming Republic.