CVC Capital Partners Acquires Sisal for €1 Billion
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CVC Capital Partners Acquires Sisal for €1 Billion
CVC Capital Partners announced it has further delved to the world of gambling through another acquisition that is strategic. The personal equity company revealed the purchase of Italian gambling operator and provider of payment solutions Sisal Group S.p.A. for the amount of €1 billion.
Sisal ended up being launched in 1946 and it has since then been providing gambling that is numerous and re payment solutions for gambling clients. Additionally it is interesting to notice that the company that is milan-based end up being the first of its kind to run in Italy as being a Government Licensee. Sisal presently manages significantly more than 45,000 points of purchase situated all around the country.
The private equity firm has not had presence in the Italian gambling market so far although CVC Capital Partners has substantial previous experience in the gambling industry. The organization is well known for previously purchasing major gambling that is UK-based William Hill. What is more, in March 2015, CVC Capital Partners acquired a majority stake in another gambling that is UK-based Sky Betting & Gaming. Of late, it had been established that the equity that is private would also buy German operator Tipico.
Commenting in the latest statement, Giampiero Mazza, Head of CVC Capital Partners’ Italian group described as one of the market leaders in Italy and has been offering diverse entertainment options across the country that they are pleased with the opportunity to work with and invest in Sisal as the Italian company has long ago established itself.
Mr. Mazza further noted that Sisal is in a position that is ideal secure development in numerous areas and they are searching ahead to aid its team in consolidating the company’s ‘leadership into the re payments space,’ to continue developing its online gambling platform, also to innovate its retail business.
Sisal CEO Emilio Petrone commented that the CVC Capital Partners Milan team has completed ‘a great acquisition.’ The executive further noted that their business happens to be in a time period of development and it has been enjoying results that are excellent some time now. Mr. Petrone included that with CVC Capital Partners as its brand new owner, Sisal should be able to exploit its potential to a complete level, hence becoming more competitive and stronger.
INTRALOT Extends Partnership with Pacific Online System Corporation
Operator and provider of solutions for the worldwide gambling industry INTRALOT announced that it has extended its existing partnership with Pacific Online System Corporation, a public company running the Philippines Charity Sweepstakes workplace games. The agreement that is new valid through August 31, 2018.
It has been the 5th expansion of the contract that is existing the 2 parties since the establishment of their partnership back in 2006.
Under the regards to the newly finalized contract, INTRALOT would carry on supplying its LOTOS on line lottery system solution to the gaming corporation. In addition, the Greek provider would additionally provide a lot more than 1,200 lottery terminals and would link 800 more primary units throughout the network that is points-of-sales by Pacific on the web Systems Corp.
Commenting on the announcement that is latest, Willy Ocier, President of this video gaming firm, stated that the contract extension’s absolute goal is for the two companies to build regarding the established strong foundations and also to offer merchants across the Philippines with all the opportunity to benefit from revolutionary gaming technology that will assist them boost lottery product sales.
Mr. Ocier further noted that INTRALOT has always been a valuable partner in Pacific on the web Systems Corp.’s try to modernize the Philippine lottery landscape and as a result of the Greek organization’s worldwide experience, they will have manged to help expand their operations.
Nikos Nikolakopoulos, Chief Operating Officer of INTRALOT, noted that they are incredibly excited by the chance to embark on such a long-term partnership with Pacific on the web Systems Corp. The official also noticed that they’ve been looking forward to supporting their lovers within their try to provide innovative and proven gaming solutions, to optimize consumer experience, also to boost sales.
Last week, INTRALOT announced its brand new development strategy. The company stated that it aims at securing sustainable EBITDA enhance, solid cashflow, and quick reduced total of web debt through strategic transactions therefore the introduction of novel services and products.
Recently, the Greek business completed the merger of its Italian operations with those of other gaming business Gamenet. INTRALOT now holds a 20% stake into the entity that is combined. The company has additionally established that it would buy a 49% share in Eurobet Bulgaria, the primary provider of lottery and scratchcards across the country.