ROME (ITALY) – PROVIDENCE, RHODE ISLAND (U.S.A.), August 8th, 2008 – Lottomatica Scommesse Srl, a Lottomatica’s wholly owned subsidiary, has been authorized by the Italian Competition Authority for the acquisition of 100% interest in Toto Carovigno S.p.A. (owner of the Totosì brand), and of four other corporate branches in the Totosì group for approximately €41 million from Totosì Holding Srl.
As stated in the official notice circulated by Italy’s Antitrust, “the Authority decrees not to proceed with the preliminary investigation concerning the above matter since such operation is not favoring the constitution or reinforcement of a dominant position capable of eliminating or reducing competition in a substantial and enduring manner”.
The acquisition will be finalized within the current month of August through the Toto Carovigno equity stake transfer.
Based on the 2008 first half market data, Lottomatica Scommesse reached with its brand Better an approximately 14% market share. With the acquisition of Totosì, Lottomatica aims to consolidate its second position as an operator in the Italian sports betting market.
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