Lottomatica Considering IPO

Italian gaming operator Lottomatica is working with UniCredit and other financial institutions on an initial public offering that could raise around $1 billion.

Lottomatica Considering IPO

The private-equity owners of Lottomatica SpA, the Italian VLT and AWP operator formerly owned by International Game Technology, are considering launching an initial public offering this year that sources told Bloomberg and Reuters could raise as much as $1 billion.

IGT sold Lottomatica in 2021 to an equity group headed by Apollo Global Management, Inc. According to the Reuters report, the company is working with UniCredit SpA, Goldman Sachs, Barclays, Deutsche Bank and JPMorgan on an IPO that would be released in the first half of the year, depending on market conditions.

Bonds of Lottomatica rose after the news broke, its €575 million bonds due July 2025 jumping as much as 1.6 cents on the euro to 97.6 cents, the highest since last spring.

Representatives of Lottomatica, Apollo and UniCredit all declined to comment on the plan to Bloomberg, Reuters and other news organizations.