SKS365, one of the main omnichannel operators in the Italian online and sports betting market, today announced that it has reached a definitive agreement to be acquired by Lottomatica Group S.p.A.
The acquisition, valued at an Enterprise Value of €639 million, is expected to be completed in H1 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% in the iSports segment and 6.4% in the iGaming segment and is expected to generate €74m of EBITDA in FY2023, of which approximately 70% online and 30% Sports Franchise. The transaction is expected to be completed in H1 2024, subject to customary competition and regulatory approvals.
“At SKS365 we are proud to become part of the Lottomatica Group. 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”, said Alexander Martin, CEO of SKS365.
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.
Lazard acted as the sole financial advisor to the SKS365 shareholders in the transaction.
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