Intralot is to merge its Italian operations with that of Gamesnet to form one of the largest operators in the Italian gaming market.
Intralot Group and Trilantic Capital Partners Europe, the controlling shareholder of Gamenet, confirmed they have signed a Memorandum of Understanding to merge the Italian activities of Intralot into those of Gamenet.
Following completion of the transaction, Intralot will control around 20 per cent of the combined operations., which will comprise approximately 800 betting POS, that will continue to use Intralot’s brand name, 8,200 VLTs, over 50,000 AWPs and more than 60 directly owned and managed gaming halls.
Intralot CEO Antonios Kerastaris said: “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.”
Gamenet CEO, Guglielmo Angelozzi, 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.”