Lottomatica Acquires SKS365 To Strengthten Position In Italian Market

In November 2023, Lottomatica completed the acquisition of SKS365 Malta, valuing the business at €639 million. This was a big step. By acquiring all of SKS365 Malta’s share capital, Lottomatica is demonstrating its commitment to growing its market share in Italy.

Lottomatica stressed that the purchase will strengthen its portfolio of brands and quicken its rate of expansion. Lottomatica recognized tremendous potential in this cooperation since SKS365 has a strong online presence with flagship brands like PlanetWin365 and PlanetPay365, in addition to over 1,000 retail sports betting locations.

Enabling the Next Phase of Growth

CEO Guglielmo Angelozzi expressed confidence in the value of SKS365’s brands, deeming them “highly valuable and complementary” to Lottomatica’s portfolio. He reiterated Lottomatica’s commitment to supporting SKS365 in its next phase of growth, leveraging the collective strengths of the enlarged group.

“We add highly valuable and complementary brands to our portfolio,” Angelozzi said. “We will provide all the necessary support for the next phase of growth by leveraging the skills of the enlarged group.”

With the completion of the acquisition, Lottomatica announced plans to update its FY 2024 guidance to incorporate the anticipated results from SKS365. The financing for the purchase comprises a combination of available cash and additional debt, underscoring Lottomatica’s strategic approach to acquisitions and growth initiatives.

After a fiercely intense bidding process, Lottomatica defeated industry titan Playtech to acquire SKS365. Even though Playtech and SKS365 had preliminary discussions, Lottomatica’s bid was accepted, securing its place in the Italian gambling industry.

Playtech acknowledged that other companies, such as Flutter, were interested in its products, but it was unsure how its acquisition efforts would turn out. In the end, Lottomatica’s winning bid completed the acquisition, setting the business up for future development and expansion in the gaming sector.