Intralot concludes sale of Totolotek to Gauselmann’s Merkur Sportwetten
In a deal that will see its European and Polish presence strengthened, Germany-based Gauselmann Group subsidiary, Merkur Sportwetten GmbH, will acquire Totolotek SA, a Warsaw-based subsidiary of Intralot SA (ATH:INLOT). The takeover will give Polish sports bettors the opportunity to place bets via MERKUR Sun.
“this transaction will create value for all involved parties”
According to the official press release…
Finalization of the share purchase agreement has already taken place, with both parties now waiting for merger clearance from Polish authorities.
Industry veteran:
Having been established in the Polish sports betting market for nearly three decades, Totolotek is one of the Central European country’s top three omnichannel wagering companies. The 27-year veteran firm, which currently has 560 employees, markets its broad-ranging sports betting offering via stationary trade at upwards of 260 distribution points in addition to its website and mobile app.
Strategic partnership:
Explaining the significance of the new partnership, Chief Executive Officer for INTRALOT Group, Adam Lamentowicz, said…
“We are delighted to have gained a strong strategic partner with Merkur Sportwetten, and the Gauselmann Group behind it. With its experience and financial strength as well as its innovative products for stationary trade and the online and mobile sector, it will help Totolotek achieve further growth.”
Summing up Merkur Sportwetten’s acquisition of Totolotek, Andreas Chryssos, Chief Financial Officer for INTRALOT Group, said…
“Consistent with INTRALOT’s strategy of disinvesting from its non-core markets and focusing on the group’s strategic markets, such as the USA, we are very glad we can safeguard Totolotek’s continued growth within the strong Gauselmann Group and its European-market-focused sports-betting division Merkur Sportwetten. In my view, this transaction will create value for all involved parties – Gauselmann, Totolotek and INTRALOT – which was fundamentally important from INTRALOT’s point of view when deciding to proceed with this transaction.”
“an important part of our growth strategy”
Elaborating on the deal’s significance, Chief Executive Officer for Mekur Sportwetten, Niko Steinkrauß, explained…
“Sports betting is extremely popular in Poland and for many football fans it’s an essential part of a good match. The acquisition of Totolotek is an important part of our growth strategy to open up the Polish market and thereby gain another core market in Europe alongside Germany, Austria, Denmark and Belgium.”
Kerastaris resignation:
The publicly listed INTRALOT that is an active operator in 52 regulated jurisdictions around the world announced earlier this month that following the resignation of Antonios Kerastaris as Chief Executive Officer and Executive Member of the Board of Directors, on March 1, 2019, the Chairman of its Board, Sokratis Kokkalis, would be additionally assuming the duties of Chief Executive Officer.
Intralot‘s joint venture in Turkey, Inteltek, had operated İddaa, the country’s only legal sports betting company, since 2004, with the contract set to expire in August. Shortly after the firm confirmed the loss of the bid to Las Vegas-headquartered lottery and gaming machines innovator, Scientific Games Corporation (NASDAQ: SGMS), it announced that Kerastaris had resigned from the business.