ECONOMY

Intralot expands in Italy

Greek lottery systems supplier Intralot has acquired Italian joint venture William Hill Codere Italia (WHCI) for 5.5 million euros as part of plans to strengthen its position in the Italian betting market. Intralot, which is present in 45 countries, said the acquisition will boost its Italian portfolio with 55 additional licenses for horse-racing and sports-betting points of sale that WHCI has been awarded. «Intralot optimizes and consolidates its position in the Italian market through this significant acquisition,» said CEO Constantinos Antonopoulos in a statement. Intralot added it has managed to climb to the top three companies that currently operate in the highly competitive Italian betting industry by considerably boosting its market share. Intralot, whose shares are listed on the Athens bourse, has a market capitalization of 1.5 billion euros. Its shares lost 3.7 percent yesterday, ending at 9.90 euros.