CVC Capital Partners announced that it has further delved into the world of gambling through another strategic acquisition. The private equity firm revealed the purchase of Italian gambling operator and provider of payment solutions Sisal Group S.p.A. for the total amount of €1 billion.
Sisal was founded in 1946 and has since then been providing numerous gambling options and payment solutions for gambling customers. It is also interesting to note that the Milan-based company has become the first of its kind to operate in Italy as a Government Licensee. Sisal currently manages more than 45,000 points of sale located all around the country.
Although CVC Capital Partners has substantial previous experience in the gambling industry, the private equity firm has not had presence in the Italian gambling market so far. The company is known for previously investing in major UK-based gambling operator William Hill. What is more, in March 2015, CVC Capital Partners acquired a majority stake in another UK-based gambling company – Sky Betting & Gaming. Most recently, it was announced that the private equity firm would also purchase German operator Tipico.
Commenting on the latest announcement, Giampiero Mazza, Head of CVC Capital Partners’ Italian team pointed out that they are pleased with the opportunity to work with and invest in Sisal as the Italian company has long ago established itself as one of the market leaders in Italy and has been offering diverse entertainment options across the country.
Mr. Mazza further noted that Sisal is in an ideal position to secure growth in different areas and that they are looking forward to support its team in consolidating the company’s “leadership in the payments space,” to continue developing its online gambling platform, and to innovate its retail business.
Sisal CEO Emilio Petrone commented that the CVC Capital Partners Milan team has completed “a great acquisition.” The executive further noted that his company is now in a period of growth and has been enjoying excellent results for some time now. Mr. Petrone added that with CVC Capital Partners as its new owner, Sisal will be able to exploit its potential to a full extent, thus becoming more competitive and stronger.
