Intralot acquires strategic stake in Bulgaria’s Eurobet

Intralot has agreed a deal to acquire a 49% stake in Bulgarian gaming company Eurobet.

Under the agreement, the terms of which were not disclosed, Intralot will secure the stake through its BILOT Bulgarian subsidiary.

Eurobet provides the Bulgarian market with numerical games and scratch tickets through a network of 1,100 points of sale across the country.

Subject to regulatory approvals, the acquisition is expected to go through by June of this year.

“Intralot’s strategic participation in Eurobet highlights our company’s ability to attract international investors and reinforces our position in the local gaming market,” Eurobet chief executive Millen Stamatov said.

“We are confident that Intralot’s global experience in our sector will further increase the value that we deliver both to our shareholders and the Bulgarian players.”

Antonios Kerastaris, chief executive of Intralot, added: “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.”

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