Greek gambling operator and supplier of lottery and other solutions for the international gaming industry INTRALOT announced today that is to further expand and strengthen its presence in the Eastern European gambling market through the acquisition of a strategic stake in Bulgarian gaming company Eurobet.
The Greek gaming giant is to purchase a 49% stake in the Bulgarian operator through its Bulgarian subsidiary BILOT. Generally speaking, Eurobet has been offering a number of gambling options, including numerical games and scratch cards, since it was established back in 1996 through its network of a total of 1,100 points of sales across Bulgaria.
Here it is important to note that INTRALOT already has introduced its operations to the Bulgarian gambling market. The company owns a 49% stake in local sports betting operator Eurofootball, which offers live betting and fixed-odds betting options through a chain of 850 shops located across the country.
INTRALOT did not reveal any further details about its latest acquisition. However, it said that the transaction is subject to regulatory checks and approvals and is expected to be completed in June.
Commenting on the latest announcement, INTRALOT CEO Antonios Kerastaris said that they are extremely proud with the opportunity to expand their presence in Bulgaria through the purchase of a strategic stake in Eurobet, which is known to be a leader in the local market. Mr. Kerastaris also noted that by combining the two companies’ product offering, the Greek gaming giant will be able to strengthen its operations and position into a more consolidated gaming market.
The executive explained that the latest purchase is in line with their growth strategy to secure important partnership agreements with leaders in local markets and to sustain its leading position in those same markets.
Millen Stamatov, CEO of Eurobet, commented that INTRALOT’s decision to participate in the gambling company’s operations highlights its ability to attract the attention of international investors, thus reinforcing its position in the Bulgarian gaming market. Mr. Stamatov further noted that they all believe the Greek gaming company’s experience will increase additionally the value Eurobet delivers to both shareholders and Bulgarian gambling customers.
