INTRALOT FORTIFIES ITS POSITION IN THE RUSSIAN BETTING MARKET
INTRALOT Group announces the increase of its stake in Kelicom to 100% from 33% previously. With this transaction INTRALOT gains control of FAVORIT BOOKMAKERS’ OFFICE LLC (Favorit) as well as access to its extensive customer data base. Kelicom holds a strategic stake of 74,9% in Favorit, one of the leading sports betting operators in Russia. The transaction for the 67% stake in Kelicom was performed at a valuation that represents less than 1% of the Company’s consolidated assets and it has been approved by the competent authorities.
Mr. Ioannis Pantoleon, INTRALOT Group General Director of Finance and Business Development, stated: “By obtaining the full control of Favorit, we serve our strategy to further invest in the Russian regulated betting market and become one of its major players. We are looking forward to continuing our successful operations in the country and providing Russian players with our exciting gaming offerings.”
Founded in December 2002, Favorit is one of the well-established betting companies in Russia. In March 2012, Favorit’ s 5year license to run sports betting activities in the country - awarded in 2009 by the Federal Tax Service- was changed to a non-expiring license. Within its first 10 years of operations, Favorit has offered sports fans the opportunity to bet on football, basketball, tennis and other sports matches.
INTRALOT, a public listed company, is the leading supplier of integrated gaming and transaction processing systems, innovative game content, sports betting management and interactive gaming services to state-licensed gaming organizations worldwide. Its broad portfolio of products & services, its know-how of Lottery, Betting, Racing & 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 more than 53 countries, with approximately 5.500 people and revenues of €1.2 billion for 2011, INTRALOT has established its presence on all 5 continents.