Apollo Global-backed Gamenet Group completed the acquisition of Lottomatica Videolot Rete and Lottomatica Scommesse from International Game Technology for €950m.

Apollo Global-backed Gamenet Group, a gaming company, completed the acquisition of Lottomatica Videolot Rete, a provider of gaming services, and Lottomatica Scommesse, which offers lottery, gaming solutions, and commercial services, from International Game Technology, a multinational gaming company, for €950m ($1.15bn). "The transaction enables IGT to monetize its leadership positions in the Italian B2C gaming machine, sports betting, and digital spaces at an attractive multiple to comparable Italian transactions, providing us with enhanced financial flexibility. Aligning with our recent reorganization, the favorable rebalancing of our business and geographic mix reframes and simplifies our priorities while improving the company's future profit margin, cash flow generation, and debt profile," Marco Sala, IGT CEO.