A STRATEGIC INVESTMENT OF INTRALOT IN BULGARIA
INTRALOT signed an agreement yesterday, in Sofia, with the shareholders of the Bulgarian operator of fixed odds betting Eurofootball. For the acquisition of 49% of the company share capital, INTRALOT holds also the option of acquiring another 2% of the company.
The price of the takeover amounts to 11,75 million euros. Furthermore, the agreement foresees that Eurofootball will modernize its technological infrastructure by the implementation of INTRALOT ’s state of the art integrated on-line lottery system and new generation terminals Coronis with revolutionary touch - screen design. In addition, the company will proceed with the expansion of the sales network.
Since 1993, Eurofootball is the only operator of fixed odds betting in Bulgaria and has a modern sales of 500 betting clubs throughout the country. Betting, consisting of 22% of the Bulgarian gaming market, is expected to expand substantially due to the development and economic stability into the country has entered.
It is worthwhile to remind that INTRALOT 's subsidiary, Betting Company, manages the largest betting operation in the world according to official figures, which in 2001 had a turnover close to 1,4 billion euros. The use of cutting edge technology, the expansion of the sales network and INTRALOT' s substantial know - how in fixed odds betting is expected to contribute towards rapid game growth in Bulgaria.