INTRALOT ACQUIRES WILLIAM HILL CODERE ITALIA
INTRALOT S.A. announces that, through its subsidiary INTRALOT Italia spa, has acquired 100 percent of the Italian Joint Venture company, William Hill Codere Italia Srl. (WHCI), thus further strengthening its position in the Italian betting market. The gross consideration agreed is €5.5 million.
Through this acquisition, INTRALOT Italia enriches its current portfolio with 55 additional licences for horseracing and sports betting points of sale that WHCI was awarded following a competitive process in 2006. It is reminded that following the same process, INTRALOT acquired 33% of the total licenses for the large exclusive sports betting points of sale that were finally granted, or a total of 416 licenses and 164 additional licenses for non-exclusive points of sale. Additionally, the company will migrate the current internet operations of WHCI.
In a very short period of time, INTRALOT Italia has managed to rise to the top three companies that currently operate in the highly competitive Italian betting market, while its market share is posting the most impressive increase in the market.
Moreover, the company boosts its presence in the horseracing betting market, since 20 of the WHCI licences are dedicated to horseracing. In addition, through the new licenses, INTRALOT Italia will expand its network to the Northern part of the country.
INTRALOT S.A. CEO, Mr. Constantinos Antonopoulos, commented: “INTRALOT optimizes and consolidates its position in the Italian market through this significant acquisition. The fact that we have managed to gain an impressive market share in such limited time inspires a clear vision; to continue our successful course to the top, offering more exciting gaming experiences to the Italian community.”
INTRALOT, a public listed company, is the leading supplier of integrated gaming and transaction processing systems, innovative game content and sports betting management, to state-licensed gaming organizations worldwide. Its broad portfolio of products & services, its know-how of Lottery, Betting & Video Lottery operations and its leading-edge technology, give INTRALOT a competitive advantage which contributes directly to customers’ efficiency, profitability and growth. With presence in 45 countries, with approximately 4.400 people and revenues of €835,5 m. for 2007, INTRALOT has established its presence on all 5 continents.