Italian gambling group Gruppo Gamenet SPA is acquiring GoldBet, Italy’s largest retail betting operator for €265 million.
It will acquire GoldBet’s 990 Italian betting points and related digital properties. GoldBet is considered Italy’s biggest retail-point betting operator, with the company declaring a full-year 2017 EBITDA of €40 million, combined with corporate net earnings of circa €23 million, according to SBC News.
Gamenet officials said the acquisition would allow the company to “assume the leading position within Italy’s multi-concession gambling sector, targeting further corporate growth within the betting,” in a press release.
Guglielmo Angelozzi, Chief Executive Officer of Gruppo Gamenet recently told investors that the combined Gamenet and Goldbet portfolio would service approximately 1,700 betting points, creating Italy’s largest retail betting network.
Paola Bausano CEO of GoldBet Group has approved the transaction to investors, stating that the deal would allow GoldBet to affirm its position as Italy’s leading retail bookmarker and help better navigate the changing dynamics of the nation’s gambling landscape, SBC News reported.
“This transaction represents a major opportunity for the two companies and will allow us to exploit the synergies and know-how of both companies,” he said in a press statement. “I am happy to be part of this project, ensuring continuity, but at the same time developing new projects for an ambitious joint growth”
In another story, Italy’s Agency of Customs & Monopolies announced that Italian gamblers wagered about €466 million during World Cup Russia 2018. That sets a new record for betting on a sports event for the country despite Italy’s
The wagering figure represents a new Italian sector record for a sporting event, despite Italy’s national team not playing in the event. The wagering nearly doubles the amount beet on the last World Cup in 2014.
