SBC News Sisal completes demerger of payment unit

Sisal completes demerger of payment unit

Sisal SPA, the operating firm of Italy’s SuperEnalotto lottery, has completed its corporate reorganisation, resulting in the separation of its gaming and payment operations.

Updating its investors, Sisal noted that the deed of demerger was signed in favour of the newly formed SG2 SpA, a company to which the 70% equity interest in Mooney Group S.p.A. has been transferred.

The demerger confirms the separation of the gaming and payment operations, given that Mooney Group is no longer in the control of Sisal.

Furthermore, the Italian operator confirmed the partial demerger of Sisal Lottery Italia SpA following the approval from its shareholders in July. The partial demerger ‘reorganises the chain of control of Sisal SpA through the transfer of the equity interests held by Sisal Lottery Italia SpA in its subsidiaries’.

The company’s 2019 financial statement, which took into consideration the potential demergers, saw total revenues of €654.8m and EBITDA to €200.6m, whereas, in 2020, heavily impacted by COVID-19 lockdowns, total revenues amounted to €523.8m and EBITDA to €176.3m.

Sisal noted that the reorganisation is part of a wider strategy of corporate restructuring aiming to better define the function and primary objectives of the group.

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