Intralot merges Italian operations

Intralot merges Italian operations

Wednesday, March 23, 2016
Antonios Kerastaris welcomed the synergies offered by the deal

Intralot group chief executive Antonios Kerastaris said the merger of his company’s Italian operations with those of Gamenet is part of its strategy of expansion through local partners.

The Greek gaming systems company, which has been operating in Italy for a decade, announced that it has signed Memorandum of Understanding (MoU) to combine its activities in the country with those of Gamenet.

The joint venture, of which Gamenet will control some 80 per cent, will comprise approximately 800 betting points-of-sale, around 8,200 video lottery terminals (VLT), over 50,000 AWP machines and more than 60 directly-owned and managed gaming halls.

The transaction, expected by June of this year, remains subject to approval from the corporate bodies of Intralot and Gamenet, as well as public authorities.

Kerastaris said: “Since acquiring a betting operator license in Italy in 2007, and at a later stage VLT and AWP licences, 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.”

Guglielmo Angelozzi, chief executive of Gamenet, added: “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.”

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