The Greek lottery operator acquired a further 20% of the Turkish sports betting operator for EUR 67 million, bringing its total stake from 25% to 45%.
Inteltek, which has an exclusive contract to manage sports betting in Turkey for eight years on behalf of Sportoto, offers its games through a network of 4,000 points of sale and expects to turn over in excess of $850 million for 2005.
Constantinos Antonopoulos, INTRALOT Chief Executive, stated: “The increase of our participation in Inteltek strengthens the presence of the Intralot Group in the promising Turkish gaming market and is expected to offer the group increased participation in future earnings from the management of sports betting games in the country.”
In separate news, World Entertainment Corp, a provider of internet bingo software, announced that it has entered into an agreement to purchase certain assets including the software of a 10 year old Antigua-based gaming company for $3.5 million.
The company object of the acquisition owns 15 websites and with a player base of over 260,000 players reported gross wagering revenues in excess of $50 million in the last twelve months.
Louis Dion, President of World Entertainment Corp, said the acquisition is a move forward in integrating the company\’s unique affiliate program and a great compliment to the WEC\’s mobile applications currently being tested.
Calculators
