IGT Group Italian gambling subsidiary Lottomatica has confirmed that it has entered a four-party consortium aiming to bid for the Italian lottery tender.
Lottomatica will lead the bid consortium made up of members Italian Gaming Holding ( a subsidiary of SAZKA Group), Arianna 2001 SPA (an entity affiliated with the Federation of Italian Tobacconists) and Novomatic Italia.
Issuing a corporate statement Lottomatica disclosed that it had presented a bid on 16 March in accordance with the tender process and regulations.
Under the terms of the consortium agreement, Lottomatica will serve as the principal operating partner to fulfil the requirements of the Italian Lotto license.
If the consortium wins the Lotto concession, a joint venture company will be established. Lottomatica will receive 61.5% equity ownership and IGH, Arianna 2001, and Novomatic Italia will have 32.5%, 4%, and 2% share, respectively.
If successful Lottomatica governance will appoint a majority of the joint venture board and will enter into a contract with the joint venture to provide technology products and services for the Lotto.
Lottomatica announces its Italian lottery bid ahead of IGT Group’s scheduled full-year 2015 results on 17 March.