Lottomatica, the Italian gambling company backed by Apollo Global Management Inc., is considering a Milan initial public offering this year that could raise about $1 billion, people familiar with the matter said.
Lottomatica is working with banks including UniCredit SpA as it evaluates the listing, which could take place as soon as the second quarter, the people said. It’s considering seeking a valuation of around $5 billion including debt, according to the people, who asked not to be identified because the information is private.
Lottomatica operates in Italy’s regulated gaming market and is active in the online, sports betting and slot machine segments. The company hasn’t set precise terms for the offering, and details of the share sale could change depending on market conditions.
Representatives for Lottomatica, Apollo and UniCredit declined to comment.
Sisal SpA, Italy’s oldest betting company, also took a stab at listing on the Milan exchange before being bought by Flutter Entertainment Plc in a £1.6 billion ($2 billion) deal agreed in 2021.
https://www.bnnbloomberg.ca/apollo-backed-gambling-firm-lottomatica-weighs-1-billion-ipo-1.1868897
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