SKS365 Confirms €639 Million Sale To Lottomatica
SKS365, a prominent iGaming operator in Italy’s online and sports betting sector, has confirmed a definitive agreement for acquisition by the Lottomatica Group for €639 million (£556m), for completion in the first half of 2024.
The acquisition is a strategic move for SKS365 and is aimed at amplifying its growth trajectory and consolidating its standing in the Italian iGaming and sports betting market.
SKS365 boasts a robust online presence with approximately 600,000 registered users and is the entity behind esteemed brands such as Planetwin365 and PlanetPay365.
The operator also maintains an extensive network of nearly 1,000 retail sports betting outlets, with a 9.6 percent market share in the sports segment and 6.4 percent in the gaming segment.
SKS365 is on track to produce an EBITDA of €74 million (£64.31m) in FY2023, featuring a significant portion of revenue from digital action and sports franchising.
“[We]are proud to become part of the Lottomatica Group,” affirmed SKS365 CEO Alexander Martin.
“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.”