Date: 26.04.2024

by Kajetan Sawicz

Last update: 08.05.2024 12:13

Lottomatica Completes Acquisition of SKS365 Malta

Lottomatica successfully concluded the acquisition of SKS365 Malta in November 2023, marking a pivotal moment in its strategic expansion plans. Valued at €639 million, this acquisition underscores Lottomatica’s commitment to enhancing its market presence and diversifying its portfolio.

Strengthening Market Position

By acquiring the entire share capital of SKS365 Malta, Lottomatica aims to solidify its position as a key player in the Italian gambling landscape.

CEO Guglielmo Angelozzi emphasized the strategic significance of SKS365’s brands, highlighting their value and complementarity to Lottomatica’s existing portfolio. With flagship brands like PlanetWin365 and PlanetPay365, as well as a network of over 1,000 retail sports betting locations, SKS365 brings a strong online presence and extensive retail footprint to the table.

Angelozzi reiterated Lottomatica’s commitment to supporting SKS365 in its next phase of growth, leveraging the combined expertise and resources of the enlarged group. The acquisition is poised to enable both companies to capitalize on emerging opportunities in the dynamic Italian gambling market.

Financial Implications and Strategic Financing

In terms of financing, Lottomatica utilized a combination of available cash and additional debt to fund the acquisition, underscoring its strategic approach to investment and growth initiatives.

The company also announced plans to update its FY 2024 guidance to reflect the anticipated results from integrating SKS365 into its operations.

Competitive Victory Over Playtech

The acquisition of SKS365 followed a fiercely competitive bidding process, with Lottomatica emerging victorious over industry heavyweight Playtech. Despite preliminary discussions between Playtech and SKS365, Lottomatica’s bid ultimately prevailed, signaling its dominance in the Italian gambling sector.

Playtech acknowledged the competitive landscape of the bidding process, noting the interest from other industry players like Flutter. While Playtech’s acquisition efforts remained uncertain, Lottomatica’s successful bid secured its position as a leading force in the Italian gaming industry.

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