Lottomatica Announces Multimillion Purchase of SKS365
LISTEN TO THIS ARTICLE:The Lottomatica Group, the retail and online gaming and sports betting operator, has announced it has reached an agreement with Italian-based gaming operator SKS365 Malta Holdings to acquire the business.
The deal will see Lottomatica subsidiary GBO SpA purchase SKS365 for the price of €639m. Lottomatica will take ownership of 100% of the company, with the purchase structured mainly by cash and some additional debt.
Included in the deal are the sportsbook and gaming arcade brands, called PlanetWin365 and PlanetPay365, respectively, and it will see Lottomatica become the largest gaming operator in Italy. Once the purchase has received approval from Italy's gambling regulation authority, both parties expect the acquisition to be completed in the first six months of 2024.
We’re thrilled to welcome SKS365, one of the leaders in the industry, to our group in Italy, We add highly valuable and complementary brands to our portfolio. We will provide all the necessary support for the next phase of growth by leveraging the skills of the enlarged group.
Related: Lottomatica Records Revenue Increase in All Sectors in Q1 2023
SKS365 Welcomes the Acquisition
SKS365 is one of Italy’s largest omnichannel gaming operators, with more than 1,000 retail sports betting outlets in the country and a strong online presence.
SKS365 has stated that it is on target to achieve an EBITDA of €74m in 2023, and the breakdown is projected to be 70% from online activities and 30% from the sports segment. This translates to a market share of more than 9% in online betting and 6.4% in iGaming.
We are proud to become part of the Lottomatica Group. We couldn’t have found a better partner to continue our vision for SKS365 with the PlanetWin365 brands and PlanetPay365.
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