Intralot consolidates stake in Kelicom, takes control of Favorit

Intralot consolidates stake in Kelicom, takes control of Favorit

Wednesday, August 29, 2012

INTRALOT has increased its stake in Kelicom from 33pc to 100pc, giving it control of Russian betting firm Favorit, as well as access to its extensive customer data base. The transaction for the 67pc stake in Kelicom was performed at a valuation that represents less than 1pc of the company’s consolidated assets and it has been approved by the competent authorities.

Ioannis Pantoleon, INTRALOT Group General Director of Finance and Business Development, stated: “By obtaining the full control of Favorit, we serve our strategy to further invest in the Russian regulated betting market and become one of its major players. We are looking forward to continuing our successful operations in the country and providing Russian players with our exciting gaming offerings.”
 

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