Rest Of Bit8 Stake Acquired By Intralot

Published Tuesday, October 24, 2017 -
Rest Of Bit8 Stake Acquired By Intralot

In 2015 Intralot confirmed that its Intralot Global Holdings subsidiary had acquired a 35% stake in sports book and casino platform Bit8. Included in the deal was a call option for Intralot to increase its participation in Bit8 up to 60% in the next two years if certain financial targets were met.

Intralot first entered into the partnership with Bit8 in order to commence a joint development and marketing approach in the international online sports betting platform market. Bit8 chief executive Dr Angelo Dalli said back in 2015, “We are very pleased to further our strategic cooperation with Intralot, which gives Bit8 the necessary global reach that will enable us to achieve our vision of offering the best gaming platform in the industry complemented with a wide range of professional services and solutions,”

Now in 2017 Intralot has agreed to a share purchase deal to acquire the remaining 65 % interest in the gaming technology company Bit8.  Bit8 and Intralot have worked on a number of projects including the development of Intralot’s PULSE customer relationship management platform.

Chief executive officer of Intralot, Antonios Kerastaris, commented,  “PULSE has become a major pillar of our Digital Transformation strategy for Lottery Modernisation and a strategic asset in our product portfolio.

“Bit8 becomes a full member of the Intralot family, carrying enormous promise for future growth and product development by playing an important role in the successful deployment of our ‘All About the Player’ product design strategy.”

Founder of Bit8 Angelo Dalli, also added,  “I am thrilled for the success of our cooperation with Intralot and today’s development that promises to bring a new cycle of growth, portfolio enhancement, and international recognition for Bit8.

“Like every founder who has worked hard for the creation of a successful company I am proud about the company’s evolution and look forward to our future cooperation to reach new targets.”



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