INTRALOT Group and Trilantic Capital Partners Europe, the controlling shareholder of Gamenet S.p.A. ("Gamenet"), announce they signed today a Memorandum of Understanding (MoU), to merge the Italian activities of the INTRALOT Group into those of Gamenet,a leading VLT and AWP concessionaire and retailer in Italy and a betting and online operator.
Following completion of the transaction, INTRALOT Group is envisaged to control 20% of the combined operations. With a network of approximately 800 betting POS, that will continue to use INTRALOT’s brand name, ca. 8.200 VLTs, over 50.000 AWPsand more than 60 directly owned and managed gaming halls, the new group will become one of the largest operators in the Italian gaming market.
The Group CEO of INTRALOT, Mr. Antonios Kerastaris, commented on the deal:
“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, Mr. Guglielmo Angelozzi, commented on the deal: “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”.
Completion of the transaction, which is expected by June 2016, is, inter alia, subject to approvals by the corporate bodies of INTRALOT and Gamenet and by competent public authorities.