US funds sell ownership of Microgame Italia to Piomo SA 

The Italian gambling market has been rocked by further M&A activity, as the board of Microgame SPA this afternoon confirmed that a deal had been agreed to sell a controlling 91.7% stake to private investment group Piomo SA. 

The transaction has been approved by US private equity funds Monitor Clipper and TPG Growth which have agreed to sell their combined shareholding in Microgame to Piomo with the funds ‘exiting all ownership structures’.

No details have been disclosed with regards to the transaction’s value, or Piomo’s intended plans for Microgame.

A company statement disclosed that Marco Castaldo (CEO) and his executive team will remain in charge of Microgame’s day-to-day operations.

Founded in 1996, Microgame is recognised as Italy’s leading technology supplier for the gambling sector, maintaining operating systems for over 50 ADM licensed operators and 14 licensed retail incumbents. 

Microgame’s Italian technology partners include GoldBet, Admiral Italia, Betaland, Merkur and Sportpesa.

“Piomo’s ownership marks the beginning of a new phase of growth of our project,” remarked Marco Castaldo, CEO of Microgame. “The new shareholder represents a guarantee not only for the company but above all for our customers who will benefit from the strength and renewed investment capacity of their provider.

“I wish to thank our historical stakeholders, Monitor Clipper Partners and TPG Growth, who have contributed so much to the development of the company for the past decade.”

Sweeping changes appear on the horizon of Italian gambling, as industry regulator ADM maintains its decree mandate to cap the regulated marketplace to 40 concessions.   

Elsewhere, market consolidation saw IGT Plc depart the Italian B2C market, selling its Lottomatica sports betting and gaming units to  Gamenet Group – which executed a €950 million purchase funded by US backer Blackstone Capital. 

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