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IGT to Sell Lottomatica for €950M

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Lottomatica Holding S.r.l., the wholly-owned subsidiary of International Game Technology PLC (IGT), has signed a definitive agreement to sell one hundred percent (100%) of the share capital of Lottomatica Videolot Rete S.p.A. and Lottomatica Scommesse S.r.l. to Gamenet Group S.p.A.

“The transaction enables IGT to monetize its leadership positions in the Italian B2C gaming machine, sports betting, and digital spaces at an attractive multiple to comparable Italian transactions, providing us with enhanced financial flexibility. Aligning with our recent reorganization, the favorable rebalancing of our business and geographic mix reframes and simplifies our priorities while improving the Company’s future profit margin, cash flow generation, and debt profile,” Marco Sala, CEO of IGT, said.

The sale price is €950 million, with €725 million payable at closing, €100 million payable on 31 December 2021 and the remaining €125 million payable on 30 September 2022. IGT will use net proceeds from the transaction primarily to reduce debt.

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The Board of Directors of IGT has unanimously approved the transaction, which remains subject to customary closing conditions, including regulatory approvals. IGT expects that the transaction will close in the first half of 2021.

Credit Suisse International is acting as lead financial advisor to IGT, UBS is acting as financial advisor and fairness opinion advisor to IGT and its Board of Directors, and White & Case and NCTM are advising IGT. Mediobanca, Paul, Weiss, Rifkind, Wharton & Garrison LLP and the Italian offices of Cleary, Gottlieb, Steen & Hamilton LLP and Latham & Watkins, LLP are advising the buyer.

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CT Interactive Named Finalist for “Most Innovative Supplier” at European iGaming Awards

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CT Interactive, a global provider of online gaming content, was selected as a finalist in the prestigious “Most Innovative Supplier” category at the European iGaming Awards. This recognition highlights CT Interactive’s commitment to creating immersive contribution for the iGaming industry.

The European iGaming Awards celebrate excellence and innovation within the gaming sector, recognising companies that drive industry evolution. The award ceremony will be held in Barcelona on 21 January 2025. CT Interactive’s nomination reflects its focus on delivering cutting-edge technology, a diverse game portfolio and tailored solutions that enhance player engagement and operator success.

“We are honored to be recognized as a finalist in such a competitive and esteemed category. Innovation has always been at the core of our mission, and this nomination reaffirms our efforts. It is a testament to our talented team’s hard work and our partners’ trust,” Martin Ivanov, COO at CT Interactive, said.

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Blackstone to List Spain’s Cirsa Shares in Madrid Early 2025

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Private equity investor Blackstone plans to list shares of Spanish gambling company Cirsa in the first half of 2025 in an initial public offering.

Blackstone would raise between 700 million euros and 1 billion euros,floating between 20% and 25% of Cirsa.

The investment fund has hired Barclays, Deutsche Bank and Morgan Stanley as global coordinators, according to reports.

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Cirsa, Blackstone, Barclays, Deutsche Bank and Morgan Stanley did not immediately respond to requests for comment.

Blackstone acquired Cirsa, which operates casinos and betting shops across Spain and Latin America, in 2018 for an undisclosed sum.

In 2021, a Spanish newspaper reported Blackstone was considering a Cirsa IPO in a deal that would value the company at around $3.4 billion.

The post Blackstone to List Spain’s Cirsa Shares in Madrid Early 2025 appeared first on European Gaming Industry News.

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Betsson’s Customer Service Team Nominated for Award at the CX Exchange Awards 2024

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Betsson Group’s Customer Service team has been shortlisted for the “Best Customer Experience” at this year’s prestigious CX Exchange Awards 2024.

Melissa Zalbeigi, Director of Customer Service Operations at Betsson Group, said: “We are honoured and excited to be nominated for this award. It’s a privilege to be recognised alongside industry leaders and to compete against such esteemed companies. This nomination is a testament to our team’s dedication to providing exceptional customer service.”

The post Betsson’s Customer Service Team Nominated for Award at the CX Exchange Awards 2024 appeared first on European Gaming Industry News.

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