Lottomatica eyes US market entry via sportsbook platform agreement with Elys Game Technology
Under the terms of the deal, Elys will contribute a commercial partition of its betting technology to integrate within Lottomatica’s existing environment, in addition to providing dedicated engineering and technical service teams to ensure the functional operation of the product.
Elys will earn tiered licence fees from Lottomatica based on the product’s operation and may collaborate with the Italian operator on further growth initiatives.
“We are very pleased to collaborate with industry leader Lottomatica and their proven leadership on global sports betting opportunities as we continue to expand our operational footprint,” said Michele Ciavarella, executive chairman of Elys Game Technology.“This partnership adds a new evolution for Elys’ innovative sportsbook technology and is yet another example of our modular architecture’s ability to seamlessly integrate. We look forward to working closely with Lottomatica and their commercial partners to provide a competitive, flexible, and effective technology solution throughout this long-term relationship.
“We believe that this partnership could also foster significant synergies in the online gaming industry, both domestically and internationally, and is positioned to drive long-term shareholder value for both companies,” Ciavarella concluded.
Lottomatica is currently owned by New York-based private equity giant Apollo Global Management. The firm bought the company from IGT in December 2020 for €950m.
That transaction instantly made Lottomatica the Italian market leader for online gambling, by combining and consolidating the business with the Gamenet and Goldbet brands.
Giuseppe Portoricco, Lottomatica SVP for North America, added: “This agreement will allow Lottomatica to accelerate its plans for North America by leveraging Elys’ deep knowhow and strong technology in this segment. We are excited to collaborate with Elys on these developments.”