Lottomatica, a prominent operator in the Italian gaming market, has announced its agreement to acquire 100% of the share capital of SKS365 Malta Holdings Limited (SKS365). This strategic move is valued at €639 million ($677.4 million) and is expected to enhance Lottomatica’s position in the gaming and sports betting industry in Italy. The transaction, subject to approvals, is set to be finalized in the first half of the next year, with financing to be provided through a combination of cash and new debt.
Lottomatica’s Expansive Presence:
Lottomatica is a leading player in the Italian gaming market, offering both online and in-person betting and gaming services. It holds the distinction of being the first Italian operator authorized by the Customs and Monopolies Agency in the gaming market. Lottomatica boasts a vast network of over 3,000 betting outlets and more than 1,400 gaming rooms across Italy.
Insight into SKS365:
SKS365 is a key player in the Italian gaming sector, hosting a significant user base of 600,000 online users. Additionally, it maintains a retail network comprising over 1,000 betting shops and owns subsidiaries like Planetwin365 and PlanetPay365. The company commands a substantial market share, accounting for 9.6% in iSports and 6.4% in iGaming.
Anticipated Synergies:
Lottomatica envisions significant benefits from this acquisition, with estimated cash cost synergies of €60 million and revenue synergies of at least €5 million over the next three years. This move aligns with Lottomatica’s strategy to strengthen its market position and enhance its portfolio with complementary brands.
Lottomatica CEO’s Perspective:
Guglielmo Angelozzi, CEO of Lottomatica, expressed enthusiasm about the acquisition, highlighting SKS365’s exceptional performance in the Italian gaming sector. He emphasized the respected management team led by Alexander Martin and the strategic value of the brands, PlanetWin365 and PlanetPay365. Lottomatica is committed to supporting SKS365 in the next phase of growth and leveraging the combined capabilities of the enlarged group.
Lottomatica’s acquisition of SKS365 marks a significant development in the Italian gaming market, with the potential to reshape the competitive landscape. The strategic move is expected to bring about synergies and growth opportunities, creating a dynamic force in the gaming industry. As Lottomatica and SKS365 join forces, they are poised to deliver enhanced services and experiences to the Italian gaming audience.