Novomatic purchases Italy's HBG Group
Novomatic, a gaming technology conglomerate, has declared the acquisition of the Italian gambling enterprise HBG Group.
Lottomatica Initial Public Offering outcomes
The financial parameters of the agreement were not revealed; however, Novomatic stated that the acquisition will position the business as one of the largest operators in Italy.
HBG Gaming operates in Italy as a concessionaire for video lottery terminals (VLTs) and amusement with prizes (AWP) machines, in addition to engaging in igaming, sports betting, and bingo sectors.
The acquisition was completed following approval from the Italian Autonomous Administration of State Monopolies.
“This acquisition signifies Novomatic's intent for further international expansion and enables the company to double its market share as a concessionaire in a pivotal European gaming market,” stated Ryszard Presch, a member of Novomatic's executive board.
The agreement follows Novomatic's acquisition of Admiral Sport in Italy in February, shortly after its Greentube interactive branch bought Italian developer Capecod Solutions for an unknown sum.
This purchase will elevate the employee count within the Novomatic group to over 3,000 in Italy and beyond 21,900 globally.
Markus Büchele, chief executive of Novomatic Italia, stated: “In our fifteenth anniversary year in Italy, we can maintain a successful trajectory due to our strong partnership with HBG and continue to grow together.”
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