Russian Sports Betting Expansion for Greek Gambling Group

Russian Sports Betting Expansion for Greek Gambling Group
Intralot acquires 100 percent of Kelicom An announcement came this week from the Greek gambling group Intralot that it has boosted its presence in Russian sports betting by making gaming information systems software and manufacturer of gaming hardware Kelicom its fully owned business. One of the major benefits of this acquisition is the fact that Kelicom holds a strategic stake of 74,9 percent in Favorit Bookmakers Office LLC, one of the leading sports betting operators in Russia. The purchase of the remaining 67 percent stake in Kelicom, after the initial acquisition of 33 percent back in June, was performed at a valuation that represents less than 1 percent of the company's consolidated assets and has been approved by the competent authorities. According to Ioannis Pantoleon, Group General Director of Finance and Business Development at Intralot, “By obtaining the full control of Favorit, we serve our strategy to further invest in the Russian regulated betting market and become one of its major players. We are looking forward to continuing our successful operations in the country and providing Russian players with our exciting gaming offerings.”
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