20 Views

Intralot Group acquires full ownership of Bit8

Leading gaming solutions supplier and operator, INTRALOT Group (INLOT:ATH), recently announced it had signed a Share Purchase Agreement to acquire the remaining 65 percent of Malta-based gaming technology company Bit8 via its subsidiary INTRALOT Global Holdings BV (INTRALOT). The deal makes the Greek company a 100% shareholder in Bit8.

Intralot first invested in the Maltese company in 2015 via INTRALOT Global Holdings BV, which purchased a 35 percent stake in the business, with the company now increasing that to full ownership.

Intralot has prospered in 2017, having posted an increase of 20.6 percent in its global revenue during Q1 this year rising to €367.9m. Additionally, the operator that is active in 55 regulated jurisdictions worldwide, in July this year signed a $5 million renewal of its existing contract with the Vermont Lottery through June 30, 2020.

Chief Executive Officer for INTRALOT Group Antonios Kerastaris (pictured) stated that he was excited to have completed the purchase of Bit8 by INTRALOT, which comes on the heels of a joint two-year product development partnership, that among other benefits, has secured for INTRALOT, the world-class CRM system, PULSE. Kerastaris elaborated stating “PULSE has become a major pillar of our Digital Transformation strategy for Lottery Modernization and a strategic asset in our product portfolio. Bit8 today becomes a full member of the INTRALOT family, carrying enormous promise for future growth and product development by playing an important role in the successful deployment of our “All About the Player“ product design strategy,” according to the press release.

Angelo Dalli, founder of Bit8, who will remain in Bit8’s Board of Directors so that he may offer strategic advice for the company’s further growth stated that he was “thrilled for the success of our cooperation with INTRALOT and today’s development that promises to bring a new cycle of growth, portfolio enhancement, and international recognition for Bit8.” Dalli said that like every founder who has labored intensely to create a successful company, he is proud of its evolution and looks forward “to our future cooperation to reach new targets.”

Intralot Group acquires full ownership of Bit8 was last modified: October 23rd, 2017 by K Morrison


Get the best viral stories straight into your inbox!

Don't worry, we don't spam

Latest Posts

Thousands of job applicants needed for resort casino in Sullivan County, NY
North America Casino News
49 views
North America Casino News
49 views

Thousands of job applicants needed for resort casino in Sullivan County, NY

editor - November 10, 2017

In Upstate New York, Empire Resorts, parent company of Resorts World Catskills is reportedly challenged with finding 1,500 qualified job applicants in Sullivan County to fill 1,400…

Aristocrat licenses Madonna-themed slot machine
Las Vegas
37 views
Las Vegas
37 views

Aristocrat licenses Madonna-themed slot machine

editor - November 10, 2017

Australian gambling machine manufacturer, Aristocrat Leisure Ltd (ALL:ASE), has reportedly licensed the iconic Madonna brand for a multi-game deal. The company anticipates that when the first Madonna…

IGT’s Fort Knox on CrystalCurve now live at Sugar Creek Casino in OK
Latest Casino and Gambling News
39 views
Latest Casino and Gambling News
39 views

IGT’s Fort Knox on CrystalCurve now live at Sugar Creek Casino in OK

editor - October 25, 2017

The popular Fort Knox Video Slots by UK-based multinational gaming company, International Game Technology PLC (IGT) (NYSE: IGT), were recently introduced at the Wichita and Affiliated Tribes-owned…

Racing Post B2B premieres new RPG innovation
Gaming Industry News
38 views
Gaming Industry News
38 views

Racing Post B2B premieres new RPG innovation

editor - September 30, 2017

Horseracing data and content provider Racing Post B2B has announced that land-based betting shops in the United Kingdom and Ireland now have a new way to display…

Ladbrokes Coral Group changes policy on honoring newspaper odds
Latest Casino and Gambling News
35 views
Latest Casino and Gambling News
35 views

Ladbrokes Coral Group changes policy on honoring newspaper odds

editor - September 26, 2017

In the United Kingdom, sportsbetting and gambling firm Ladbrokes Coral Group has reportedly announced that it is no longer guaranteeing to strictly honor horseracing odds that have…

Gun Lake Tribe appoints new COO for Michigan casino
North America Casino News
34 views
North America Casino News
34 views

Gun Lake Tribe appoints new COO for Michigan casino

editor - September 25, 2017

Match-E-Be-Nash-She-Wish Band of Pottawatomi Indians tribal officials on Monday reportedly announced the appointment of Salvatore Semola as the President and Chief Operating Officer for the Gun Lake…

AGA Gaming Hall of Fame to induct four in October
Las Vegas
26 views
Las Vegas
26 views

AGA Gaming Hall of Fame to induct four in October

editor - September 21, 2017

During the upcoming Global Gaming Expo (G2E) in Las Vegas, four unique individuals will be inducted into the American Gaming Association’s (AGA) Gaming Hall of Fame. The…

Sportech open to acquisition
Gaming Industry News
36 views
Gaming Industry News
36 views

Sportech open to acquisition

editor - September 20, 2017

After last month launching a wide-ranging review of its business and capital structures, British pools betting innovator Sportech has now announced that it is open to serious…

Groundbreaking ceremony for Pala Casino expansion project
North America Casino News
27 views
North America Casino News
27 views

Groundbreaking ceremony for Pala Casino expansion project

editor - August 31, 2017

Earlier this week, the Pala Band of Mission Indians held a groundbreaking ceremony representing the beginning of a renovation and expansion project for the Pala Casino Spa…

SG Interactive brings Sword of Destiny to online casinos
Latest Casino and Gambling News
22 views
Latest Casino and Gambling News
22 views

SG Interactive brings Sword of Destiny to online casinos

editor - August 27, 2017

After introducing its Sword of Destiny title to land-based casinos in July, American gaming machine innovator Scientific Games Corporation has announced that its SG Interactive subsidiary has…