The 6.4% share in Lottomatica that Gamma Intermediate sold has been completed.

The 6.4% share in Lottomatica that Gamma Intermediate sold has been completed.

 16 million shares of Lottomatica, or 6.4% of the Italian company, have been sold by Gamma Intermediate.
 Lottomatica Q1
 Gamma Intermediate still owns a majority ownership of 65.4% in Lottomatica notwithstanding the €152 million (£130.5 million/$165.5 million) sale.

 Gamma Intermediate sold the shares using an expedited bookbuilding process, completing the transaction at €9.50 per share.  There was no public offering in any nation; the placement was done to institutional investors.

 The final settlement is anticipated by Lottomatica to occur on or around January 22.  Gamma Intermediate has consented to lock up its remaining Lottomatica shares for 90 days.

 Plotting the growth trajectory with the purchase of SKS365 by Lottomatica
 Lottomatica reached an agreement in November to purchase all of the shares of SKS365, an operator with an Italian focus.  According to Lottomatica, the acquisition will improve its standing in the Italian market and broaden its range of brands.

 Ashford Fanatics
 Lottomatica purchased all of the Italian-facing operator Sks365 in November.
 To assist finance the transaction, which is anticipated to be finished in the first half of 2024, Lottomatica revealed plans to issue and sell €500 million in notes.  The business claims that SKS365 has an enterprise value of €639 million as a result of the deal.

 SKS365 operates over 1,000 physical sports betting locations in addition to having a significant internet presence.  Lottomatica CEO Guglielmo Angelozzi thinks SKS365 will be "highly valuable and complementary" to the group's portfolio, which already includes the brands PlanetWin365 and PlanetPay365.

 Playtech had previously stated that it was in negotiations with the Malta-based operator, but Lottomatica emerged victorious in the competition to purchase SKS365.  Lottomatica said nothing until it came to an agreement with SKS365, and it was said that Flutter was also interested.

 Strong Lottomatica Q3

 Lottomatica saw a spike in earnings and revenue in the third quarter.
 The agreements with SKS365 and Gamma Intermediate follow Lottomatica's successful third quarter of 2023, in which the company reported increase in both revenue and earnings.  Its first full quarter after its April IPO was Q3.

 Following a strong H1, Lottomatica increased its full-year guidance.  Lottomatica anticipates revenue of €1.63 billion to €1.69 billion and adjusted EBITDA of €570 million to €590 million for the entire year.

 Since Lottomatica has not yet disclosed a date for the publishing of its Q4 and full-year reports, it is unclear if the company will meet this full-year guidance.