Scale Set to Decide Bally's Future as UK Consolidation Period Begins

Bally's Intralot's B2C revenue rose 22.8 percent year on year, according to preliminary results. The company said the increase came from strong revenue growth in the UK and the addition of Intralot's B2C business to the company. The growth came despite an increase in the remote gaming duty (RGD).

Colin Mansfield, head of credit research at CBRE, said "scale is the key" to the company's long-term success. Mansfield said the market is moving toward consolidation and that size has become very important in this process. He noted that thanks to Bally's strong position in the UK through Gamesys, the company is entering the tax increases from a stronger position.

The increase in the RGD rate from 21 percent to 40 percent was announced in autumn 2025. The severity of the tax increase created a major shock in the sector. Rothschild & Co analyst Andrew Tam had said that if the tax increase is implemented, a structural consolidation response could be expected in the sector. Large players can absorb losses for longer, so they can hold off on cutting bonuses for longer and pass on price increases to customers later.

The first RGD tax revenues clearly showed this. According to provisional data for July, tax revenue rose from 283 million pounds to nearly 590 million pounds. Regulus Partners co-founder Paul Leyland said this increase had been expected in the initial period. Leyland wrote that many operators have resisted on bonuses, hoping that others would back down first.