Italy-based Gamenet Group has completed the sale of Lottomatica’s sports betting operation Scommesse and Videolot Rete gaming machine from IGT for the announced price of €1.1 billion.
Gamenet will operate the B2C units under the Lottomatica brand. In a statement the company said, “A new Lottomatica becomes the market leader of Italy’s regulated gaming market, leading the business segments of online, sports betting and gaming machines.”
Under that brand, it will run a franchise network including 1,400 gaming halls, 13,600 tobacco shops/bar gaming machines and 120 gaming venues.
Gamenet was formed by the U.S. private equity fund Apollo Global. IGT will remain a presence in Italy, operating that country’s SuperEnalotto lottery.
