Lottomatica Secures €639 Million Deal to Acquire SKS365

Lottomatica, a major player in the gaming sector, has finalized a deal valued at €639 million ($702 million) to acquire SKS365. The acquisition is expected to close in the first half of 2024, pending regulatory approval. To fund this substantial agreement, Lottomatica plans to issue €500 million (approximately $549.1 million) in debt notes. The financial arrangement includes a combination of floating rate senior secured notes and fixed-rate senior secured notes at 7.125%, forming part of a larger €565 million 7.125% Senior Secured Notes due in 2028.

Additionally, Lottomatica has secured a revolving credit cash borrowing of €50 million (about $55 million) under an existing credit agreement. These financial maneuvers will enable Lottomatica to cover all costs associated with the SKS365 acquisition, ensuring a smooth transaction.

The acquisition will be executed through Lottomatica's wholly-owned subsidiary, CBO Spa. This successful move follows a failed attempt by Playtech to acquire SKS365, with Flutter Entertainment also rumored to be considering a takeover. Guglielmo Angelozzi, CEO of Lottomatica, expressed confidence that the SKS365 acquisition would significantly benefit CBO and Lottomatica, considering SKS365's extensive reach with over 1,000 shops and a robust online presence. Angelozzi commended SKS365 as a top performer and praised its management team for establishing the brand as a local powerhouse.

Alexander Martin, CEO of SKS365, shared his team's excitement about joining the Lottomatica family, emphasizing that they couldn't have found a better acquisition partner. SKS365, known for operating popular brands such as PlanetWin365 and PlanetPay365, has also earned recognition as one of Italy's top employers for 2023.