SKS365, one of the main omnichannel operators in the Italian online and sports betting market, announced that it has reached a definitive agreement to be acquired by Lottomatica Group S.p.A., the former IGT division now owned by Apollo Global Management.
The acquisition, with an enterprise value of €639 million, is expected to be completed by mid-2024. The deal will allow SKS365 to accelerate its growth and strengthen its market position in the Italian gaming and betting industry.
The group currently has approximately 600,000 registered online customers, valuable brands including Planetwin365 and PlanetPay365, and a network of about 1,000 retail sports betting outlets. The company has a market share of 9.6 percent in the iSports segment and 6.4 percent in the iGaming segment. It is expected to generate €74 million of EBITDA in FY2023, of which approximately 70 percent is online and 30 percent is in it sports franchise.
The transaction is subject to customary competition and regulatory approvals.
“We’re thrilled to welcome SKS365, one of the leaders in the industry, to our group in Italy,” said Lottomatica CEO Guglielmo Angelozzi. “We add highly valuable and complementary brands to our portfolio. We will provide all the necessary support for the next phase of growth by leveraging the skills of the enlarged group.”
“At SKS365, we are proud to become part of the Lottomatica Group,” said Alexander Martin, CEO of SK365. “We could not have found a better partner to continue our vision for SKS365 with the brands PlanetWin365 and PlanetPay365. Many thanks to our shareholders, all employees and partners developing under my leadership a highly successful omnichannel operator with a strong momentum in online sports betting and iGaming that is complementing our strong retail network.
“I am thankful to continue to lead the SKS365 team and I am looking forward to working closely with Guglielmo Angelozzi and our new colleagues at Lottomatica.”
The acquisition will allow SKS365 to access new opportunities and develop synergies, expand its product and service offerings, and benefit from new skills and resources.
