Gamenet Group S.p.A. is to acquire 100% of the participation held by International Game Technology PLC through Lottomatica Holding S.r.l. in Lottomatica Scommesse S.r.l. and Lottomatica Videolot Rete S.p.A.
The amount of the deal was not disclosed.
Lottomatica Scommesse and Lottomatica Videolot Rete are B2C operators respectively of online/sports betting and gaming machines in the Italian market. For other countries, it is also possibile to compare UK betting offers.
With this deal, announced on December 6, 2020, and expected to close in the first half of 2021 subject to the authorization of the Italian Customs and Monopolies Agency and the approval of the relevant competition authority, Gamenet becomes the leader in the Italian gaming market and one of the key players at the European level.
Through the acquisition, the assets and people coming from Lottomatica will further strengthen Gamenet Group’s operations, human capital and portfolio of brands. The company will remain committed to accelerating its plans in the Italian market, supporting its brands and will remain focused on the quality of products and services.
Commenting on the deal, Guglielmo Angelozzi, Chief Executive Officer, said: “We have always been committed to providing excellent and safe product experiences to our customers”, commented Guglielmo Angelozzi, Chief Executive Officer of Gamenet Group. “Through this transformational acquisition, the quality of the assets and of the people coming from Lottomatica will further strengthen Gamenet Group’s extraordinary operations, human capital and portfolio of brands. We remain committed to supporting our selection of brands, which is now unparalleled in the Italian market and we will always remain focused on the quality of our products and services and on the growth of our business and of our partners.”
Gamenet Group is a leader in the betting and online gaming segments and with a significant presence in the gaming machines (AWPs and VLTs) and retail segments. Established on July 1st 2016 from the acquisition of Intralot Holding and Services S.p.A., italian branch of the Intralot Group, the company completed the acquisition of GoldBet S.r.l. (now GoldBet S.p.A.), another major gaming and betting company in Italy in October 2018. The Group’s main shareholder is Gamma Bidco S.p.A., a company formed on behalf of funds managed by Apollo Management IX, L.P., which is part of Apollo Global Management, Inc., a publicly listed leading global alternative investment manager. The Apollo Funds will continue to support the company’s growth strategy while maintaining a disciplined approach to leverage.
Gamenet Group now has a workforce of approximately 1,200 people and pro forma aggregated revenues and EBITDA of approximately Euro 1.6 billion and approximately Euro 370 million, respectively, for the year ending December 31, 2019.