Lottomatica’s Vertical Acquires 100 percent of the SKS365’s Share Capital

Following the Italian lawmakers’ announcements of the regulatory changes proposed to channel almost $1 billion of the illegal online gaming revenues to legal gambling operating streams, the major online gaming players are consolidating their positions to take advantage of the new measures expected to be included in the government’s 2024 Budget Law. The latest acquisition announced by Lottomatica Group Spa on Nov.1, 2023 may start a trend as its 100% owned vertical GBO Spa has signed a deal to acquire 100% of shares of SKS365 Malta Holdings Limited to add another asset to the group in the $25 billion market.

EUR369 Million Acquisition:

As reported by Market Screener, GBO Spa will complete the acquisition of SKS365 for EUR639 million. The transaction will reportedly be partially financed with cash while the remainder will be covered with a $500 million debt facility already secured by Lottomatica. Transactions like these may be closed through a factoring agreement including Lottomatica as a guarantor of GBO’s payments to SKS365 due under the acquisition agreement. But these details are not available from the source reporting that the transaction will be completed by the end of the first half of 2024, subject to usual regulatory approvals.

The source reports that SKS365 is a leading Italian online and sports betting multi-channel operator with the customer base of around 600,000 registered online accounts, as well as a developed network of around 1,000 retail sports betting facilities. Such a portfolio has secured a 9.6 percent market share in the iSports segment and a 6.4 percent share in the iGaming segment for SKS365 expecting to generate EUR74 million in EBITDA in 2023.

Lottomatica Leads The Online Market:

As reported, the company’s online operations represent 70 percent of the gross generated revenues, while the retail sports betting accounts for 30 percent of its 2023 GGR. At the same time, Lottomatica holds a leading position with a 28.3 % share in the total online marketCome from lodislot777. The operator expects that the ”highly synergistic transaction” with SKS365 will add value to the leader’s portfolio and speed up the group’s growth, as Market Screener reports.Come from hot646casino

Commenting on the acquisition, Guglielmo Angelozzi, CEO of Lottomatica Group, reportedly said: “We are excited to welcome SKS365, among the leaders in the gaming industry in Italy, to our Group, led by one of the most respected management teams in the industry and the leadership of Alexander Martin. We add valuable and complementary brands to our portfolio, PlanetWin365 and PlanetPay365, and we are delighted to work with Alexander and the entire team, and will provide all the support needed for the next phase of growth by leveraging the expertise of the enlarged group.”

Alexander Martin, CEO of SKS365, said: “We are proud to become part of the Lottomatica Group. We could not have found a better partner to continue our vision for SKS365 with the PlanetWin365 and PlanetPay365 brands. I am happy to continue to lead the SKS365 team and am excited to work with Guglielmo Angelozzi and our new colleagues at Lottomatica Group.”