CVC expands gambling portfolio with ?1bn Sisal acquisition

CVC Capital Partners (CVC) has acquired Italian operator Sisal for ?1bn (?760m) as the private equity firm continues to diversify its portfolio into the online gambling market.

The deal will see the Sky Betting & Gaming (SB&G) owner acquire a 100% stake in the Milan-headquartered operator from previous owners Apax Partners, Permira and Clessidra.

Sisal’s CEO, Emilio Petrone, said he was pleased the company was now under the CVC umbrella following rumours of an imminent sale of the business for a number of months.

“I am confident that with CVC, we will make a formidable team enabling Sisal to fully exploit its potential, becoming even stronger and more competitive,” he said.

“Personally, I am thrilled to lead this new, exciting phase in the company’s history,” Petrone added.

News of the deal comes after CVC recently acquired a majority stake in German sports betting operator Tipico for an undisclosed sum, which is expected to close in the third quarter of 2016, pending approval from anti-trust authorities.

And head of CVC’s Italian team, Giampiero Mazza, said he believes Sisal is ideally placed to grow both its online and retail businesses in the future.

“The Company [Sisal] is a well-diversified entertainment business with a historical brand in Italy and strong market positions across gaming, lotteries, betting and convenience payments,” he said.

“Under its previous shareholders and the management team led by Emilio Petrone, Sisal was able to grow and reshape its business perimeter thorough a period of difficult macro conditions and regulatory uncertainty.”