Greek lottery solutions provider Intralot Group has signed a Memorandum of Understanding (MoU) to merge its Italian activities with online gaming operator Gamenet, creating one of the largest operators in the Italian gambling market.
Under the agreement, signed between Intralot and Gamenet controlling shareholder Trilantic Capital Partners Europe, Intralot will control 20 percent of the combined. The new group is expected to have an estimated 800 betting POS, all of which will continue to use Intralot’s brand name, as well as ca. 8,200 VLTS, over 50,000 AWPs and more than 60 directly owned and managed gaming halls.
“Since acquiring a betting operator license in Italy in 2007 and at a later stage VLT and AWP licenses, Intralot has established a strong presence in one of the largest and most competitive gaming markets in the world. We are thrilled about the great prospects of a partnership with Gamenet that will enhance our product offering and presence in the country, in line with our strategy to seek synergies with strong local partners in promising gaming markets around the globe,” said Intralot CEO Antonios Kerastaris.
“This is a strategic step for us, as we were seeking size and diversification to complement our vertical integration programmes. We look forward to capture all the synergies from this combination and seize all the opportunities available in the market in the next years, also leveraging on the partnership with a global betting provider as the Intralot Group,” Gamenet CEO Guglielmo Angelozzi said.
The merger, which is expected to be completed by June, is still subject to approvals by the corporate bodies of the two companies and by public authorities.