SBC News Voice of the Sports Betting Industry
Updating the market, Athens listed lottery and gambling technology provider Intralot SA has confirmed that it has acquired a strategic stake in Eurobet Bulgaria.
Intralot governance processed a 49% equity stake in Eurobet via its Bulgarian subsidiary BILOT. INTRALOT.
Declaring its investment in Eurobet, Intralot governance stated that its venture investment would help ‘strengthen its market presence in Eastern Europe’.
At present Eurobet services the Bulgarian market with lotto-based and scratchcard games through an established network of +1000 sales points.
Intralot already has presence in the country as 49% owner of Eurofootball, offering Fixed Odds and Live Betting through a network of 850 shops, since 2002.
Mr. Antonios Kerastaris, Intralot Group CEO, stated: “We are proud to expand our presence in Bulgaria through acquiring a strategic share in Eurobet, a market leader in its sector. The complementarity of the product offering between our companies will lead to strengthening our operations in a more consolidated market.
This acquisition aligns with our business growth strategy to seal strategic partnerships with strong local players. Through synergies with Eurobet’s assets we will be able to further boost our operations in Bulgaria and sustain our leading position in the area.”
Intralot expects to finalise its equity investment in Eurobet Bulgaria by June 2016
