Intralot Group completes acquisition of Bit8

Intralot Group began its initial acquisition of Bit8 in 2015, purchasing a 35% share in the business, which they have now increased to full ownership of the business. The company have confirmed that Bit8 Founder Angelo Dalli, will remain in the Board of Directors of Bit8 offering strategic advice for further development of the company.

2017 has been a good year for Intralot, in which the company posted a 20.6% rise in its worldwide revenue during the first quarter of the year rising to €367.9m, while the company recently signed a $5m, three-year extension to its existing contract with the Vermont Lottery group.

Intralot Group CEO Antonios Kerastaris stated: “I am very excited to complete the acquisition of Bit8 by Intralot at the end of a two-year joint product development partnership. “

“Bit8 today 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.”

Bit8 CEO and Founder Angelo Dalli 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.”

Stay updated with GI

Follow Gambling Insider for independent news, analysis and industry expertise.

Add as a preferred source on Google

Robert Simmons

Gambling Writer

Robert Simmons served as a writer for Gambling Insider, where he was an active contributor from 2017 until 2018. Throughout his tenure, Robert executed in-depth market research and wrote over 500 news and press-release articles covering the global gambling industry under strict editorial standards and tight deadlines. He contributed editorial support to the production of five 100+ page Gambling Insider magazines, eight 25+ page Trafficology magazines, and five 25+ page special print focus editions. In addition, he produced 30 in-depth feature articles for print, secured over 30 contributions from external writers, and built long-standing professional relationships with industry stakeholders across all levels of the gambling sector.

Visit Profile