Lottoland has announce it has acquired the popular Italian lotto and online games site Giochi24.
Details of the acquisition were not released, though the acquisition helps move the company into the Italian market, where it has also launched a Lottoland Italian site. Giochi24 launched in 2008 and was one of the first online companies to get approval by Italian regulators.
With the acquisition of Giochi24 and its license for the Italian market, Lottoland adds its 8th national gambling license to its portfolio, after the UK (3 licenses), Ireland, Australia and Gibraltar (2 licenses), the company said in a press release.
At its Lottoland Italian site, players based within Italy to buy a ticket and play lotteries; including SuperEnalotto, 10e Lotto, scratchcards, instant win games, bingo and casino games, the company said in a press release.
“We are delighted to have partnered with Giochi24 and to enter into the regulated Italian market,” said Lottoland’s CEO Nigel Birrell in a press release. “Italy is a vibrant, growing market with huge potential and we are very confident there is a strong appetite for our jackpot offering.”
In another story, local reports in Australia say Lottoland is considering a High Court challenge if the Australian Parliament passes legislation banning betting on overseas lotteries.
Australia’s Parliament is considering a ban on synthetic lotteries—where players bet on the outcome of international lotteries—saying they hurt Australian lottery agents.
Lottoland Australia has offered to negotiate a revenue sharing arrangement with Australian news agents. The company has offered to give agents up to 20 percent of its Australian profits.
“With 700,000 customers in Australia, we’re going to continue to fight this,” Lottoland chief executive Luke Brill told reporters. “I’m ever the optimist, and we are still swinging, still punching … but we are really up against it.”
Hearings on the proposed ban began this week in Parliament. At the hearings, brill testified that Lottoland Australia has only paid out about $25 million in winnings in the country since 2016.
“We’re less than 1% of the lottery market here in Australia, our influence has been massively overstated,” Brill said. “We put it back into the economy. We’ve spent over $30-million on marketing and good causes.”
