49% of Bulgaria's Eurobet Acquired By Intralot

Published Saturday, April 09, 2016 - Online-Casinos.com
49% of Bulgaria's Eurobet Acquired By Intralot

Eastern Europe has been growing economically for some time now and the online gambling scene has grown along with the renewed confidence the people in the region have adopted. The political situation in counties such as Croatia, Bulgaria and Romania have stabilized to a point where investors are returning in droves cashing in on the new found wealth flowing into the nations in the middle east.

A recent post has announced the online gambling operator listed on the Athens stock exchange Intralot has agreed to a deal acquiring a 49% stake in Bulgarian gaming company Eurobet. The equity stake in Eurobet is being facilitated by Intralot’s  Bulgarian subsidiary BILOT. INTRALOT. Eurobet.com was established in 1996 as the pioneering home of online betting and gaming. Greek headquartered Intralot already owns 49% of Bulgaria’s Eurofootball, which offers Fixed Odds and Live Betting thorough a network of approximately 1100 shops in Bulgaria.

Intralot Group Chief Executive Officer, Antonios Kerastaris, said in a statement, “We are proud to expand our presence in Bulgaria through acquiring a strategic share in Eurobet, a market leader in its sector.”  Kerastaris, continued to add,  “The complimentarily of the product offering between our companies will lead to strengthening our operations in a more consolidated market.” “This acquisition aligns with our business growth strategy to seal strategic partnerships with strong local players.” “Through synergies with Eurobet’s assets we will be able to further boost our operations in Bulgaria and sustain our leading position in the area.”

Eurobet’s Chief Executive Officer, Milen Stamatov commented on the acquisition saying, "Intralot’s strategic participation in Eurobet highlights our company's ability to attract international investors and reinforces our position in the local gaming market.” “We are confident that Intralot’s global experience in our sector will further increase the value that we deliver both to our shareholders and the Bulgarian players.”

 

 


 

 

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