Financial Advisor to Lottomatica S.p.A. in the EUR 639m acquisition of SKS365

Mediobanca acted as exclusive financial advisor to Lottomatica S.p.A. (“Lottomatica”) in the acquisition of SKS365 Malta Holdings Limited (“SKS365” or the “Company”).

On 2 November 2023, Lottomatica, the largest player in the Italian gaming market, announced the signing of the agreement for the acquisition of 100% of the share capital of SKS365.

SKS365 is a leading omnichannel player in the Italian online and sports betting segments, counting on 360k unique active online users, a highly recognized brand “Planetwin365” and a retail network of approximately 1,000 sports betting shops. The Target has a market share of 9.6% in iSports and 6.4% in iGaming (ADM data based on GGR in Q3 2023), and is expected to generate EBITDA in FY 2023 of approximately EUR 74 million.

The transaction values the Company at an Enterprise Value of EUR 639m, equivalent to an EV/EBITDA FY 2023 of 8.7x pre-synergies and 5.2x post-synergies.

With this acquisition, Lottomatica consolidates its market leadership in Italy with a proforma market share in Online of 28.3% , enriches its brand portfolio and accelerates its growth profile with a highly synergistic transaction.

The deal represents:

  • A highly strategic acquisition by Lottomatica allowing to grab the last relevant available online asset in Italy 
  • A further demonstration of Mediobanca’s unique ability to successfully execute a very complex buy-side transaction, amidst significant competition from strategic investors
  • The continuation on the trusted relationship between Mediobanca and Lottomatica and its controlling shareholder Apollo, one of largest asset manager globally, following the recent successful execution of the IPO 
  • The confirmation of Mediobanca’s strong momentum involving Large Financial Sponsors, having executed 12 deals during 2023YTD
  • The further strengthening of the already extensive track-record in the Gaming sector across different products.

The agreed transaction is subject to the satisfaction of customary closing conditions, including receipt of regulatory clearances.

Mediobanca Group