Lottomatica’s GBO S.p.A. Buys 100% of SKS365’s Share Capital

Italy’s first operator in the legal gaming market to receive authorization from the Customs and Monopoly Agency and one of the leading names in Europe, Lottomatica Group S.p.A. (Lottomatica), has announced it is purchasing 100% of the share capital of omnichannel Italian online and sports betting operator SKS365 Malta Holdings Limited (SKS365). 

The acquisition deal has been inked between Lottomatica’s wholly owned subsidiary, GBO S.p.A., and the operator known for its highly recognized brands like Planetwin365 and PlanetPay365, as well as a massive retail network of around 1,000 sports betting shops. 

At the end of September, news broke about Playtech officially initiating acquisition talks for SKS365, with competitors Flutter and Lottomatica expressing similar interests.

Lottomatica Strengthens Top Position in Italy 

The acquisition, which was valued at an enterprise value of €639 million ($679 million), will be completed in the first half of 2024 after receiving all the customary approvals. With its help, the group expects to strengthen its position as a domestic leader with a proforma online market share of 28.3%. 

At the same time, Lottomatica will add more versatility to its brand portfolio while speeding up its “growth profile with a highly synergistic transaction.” By the year 2026, the Italian group expects the estimated cash cost synergies to reach €60 million ($63.8 million) and revenue synergies of at least €5 million ($5.31 million). 

Lottomatica has announced it would finance the acquisition using a mix of available cash and debt. The group has already been given the green light for a bridge debt facility of €500 million ($531 million). 

Commenting on the news, the group’s chief executive officer, Guglielmo Angelozzi, expressed their excitement to welcome the “top performing player in the Italian gaming sector” to the group while praising their highly respected management team led by Alexander Martin. 

Angelozzi added that Lotomattica was committed to offering all the necessary support in the upcoming growth phase while harnessing the mixed capacities of the now-enlarged group.

SKS365, “Proud to Become Part of the Lottomatica Group”

Using the voice of its chief executive officer, Alexander Martin, SKS365 commented that they “could not have found a better partner” to keep their vision for their PlanetWin365 and PlanetPay365 brands going forward. 

Martin took the opportunity to thank their shareholders, staff members, and partners who have contributed to the success of the omnichannel operator that currently has solid momentum in the online sports betting and iGaming world. 

The CEO also expressed gratitude for being able to preserve his team-leading role while expressing eagerness to work with Angelozzi and their new colleagues at Lottomatica.