Bally’s Claims UK iGaming Growth Outpaced Competitors in Q4 2025

Bally’s said its UK iGaming revenue growth outpaced that of its competitors in Q4 2025, with the operator arguing it is well positioned to mitigate the impact of upcoming online tax increases.

In preliminary results covering Q4 and FY 2025, Bally’s said its UK online revenue went up 6.3% year-on-year for Q4 on a constant currency basis, which was “driven by a large increase in new player volumes as well as continuing momentum in sports betting.” Bally’s did not disclose specific UK revenue numbers.

Last October, Bally’s International Interactive business was sold to Intralot for €2.7 billion (£2.33 billion), in a deal which allowed Bally’s to become the majority shareholder of Intralot with a 58% stake. The deal included Bally’s UK and Spanish interactive businesses, as well as Bally’s Casino Newcastle, which reopened last Saturday.

Bally’s Intralot reported B2C revenue of $236.5 million (£177.4 million) for the fourth quarter, up 13.9% year-on-year. Bally’s said this was driven by growth in the UK and Spain, as well as the addition of Intralot’s B2C business.

Mitigating against tax

From April, Bally’s will have to contend with significant increases to online tax in the UK. This will begin with a rise in remote gaming duty, paid on online casino bets, which will go up from 21% of gross gaming yield (GGY) to 40%.

In addition, general betting duty, paid on online sports bets, will rise from 15% of GGY to 25% in April 2027; bets on horseracing will be exempt from this.

Bally’s said:

“As a strong operator with high margins, our Bally's Intralot B2C segment is well positioned to mitigate the impact of this change and take market share, and our UK igaming revenue growth in the fourth quarter already outpaced that of our closest competitors.”

One of the common mitigation levers operators have mentioned is a reduction in marketing spend. Following the announcement of the tax increased by Chancellor Rachel Reeves in the November Budget, Ladbrokes and Coral owner Entain said 25% of the impact can be mitigated by reducing marketing and promotions as soon as the tax changes are implemented.

Meanwhile, Flutter Entertainment, owner of Paddy Power, Betfair and Sky Bet, said it will mitigate by reducing operational, promotional and marketing spend, which will account for approximately 20% of the gross impact of the first six months post implementation, and this is likely to go up to 40% thereafter. William Hill owner Evoke also mentioned reduced marketing as a means of offsetting the impact.

End of front-of-shirt deal

Bally’s will in part be forced to reduce marketing spend due to regulation in football. Bally’s is a front-of-shirt sponsor of English Premier League club Nottingham Forest.

However, this sponsorship will conclude at the end of this season, ahead of a self-imposed ban on gambling sponsorship on the front of Premier League teams’ shirts, which will begin at the start of the 2026-27 season.

Bally’s launched its online casino and sports betting operation in the UK under the name of Bally Bet in 2023. Bally’s launched in the UK via its Gamesys brand, with Bally Bet replacing Gamesys’ existing Megaways Casino, which completed its decommission in September of that year.

Bally’s pro forma combined revenue for the year ended December 31, 2025 was $2.68 billion. This was not compared with a figure for the previous year, as Bally’s results were not combined with Intralot in 2024.