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LOTTOMATICA SUBSIDIARY GTECH CORPORATION COMPLETES ACQUISITION OF 90 PERCENT OF ST ENODOC HOLDINGS LIMITED, THE OWNER OF ST MINVER, THE LEADING PROVIDER OF WHITE LABEL INTERNET GAMING SOLUTIONS
ACQUISITION FURTHERS COMPANY STRATEGY OF EXPANDING INTO GLOBAL INTERACTIVE GAMING MARKET
ROME (ITALY) - PROVIDENCE, RHODE ISLAND (US), May 02, 2008 - Lottomatica S.p.A.'s wholly-owned subsidiary, GTECH Corporation, announced that it has acquired 90 percent of Gibraltar-based St Enodoc Holdings Limited, and its subsidiaries including St Minver Limited, for €28 million in cash. GTECH also expects to pay up to an additional €13.6 million based on the performance of the business in 2008 and 2009.
Ten percent of St Enodoc remains with Gary Shaw, Founder and Chairman, until at least 2012, at which point both Mr. Shaw and GTECH have the right to cause GTECH to acquire Mr. Shaw's shares.
Lottomatica is one of the world's largest commercial lottery operators and a market leader in the Italian gaming industry. GTECH is a leading gaming technology and services company, providing innovative technology, creative content, and superior service delivery. GTECH and Lottomatica together create a fully integrated lottery operator and gaming technology solutions provider – a combined company with worldwide scale, considerable financial strength, and industry-leading customer solutions. Lottomatica is majority owned by De Agostini, which belongs to a century-old publishing, media, and financial services group. Lottomatica is publicly traded on the Italian Stock Exchange (LTO), and in 2007, had approximately €1.7 billion in revenues and 5,900 employees in over 45 countries when combined with GTECH.
For further information:
AD HOC Communication Advisors 02/7606741
Mario Pellegatta - Matteo Cidda 335/1415585
This press release and the previous ones are available on the web site: www.adhoccommunication.it
Lottomatica web site: www.gruppolottomatica.it
GTECH contact: Robert K. Vincent Public Affairs 1-401-392-7452
GTECH web site: www.gtech.com
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