Intralot fortifies its position in the Russian betting market
The transaction for the 67% stake in Kelicom was performed at a valuation that represents less than 1% of the company’s consolidated assets and it has been approved by the competent authorities.
Ioannis Pantoleon, Intralot Group General Director of Finance and Business Development, stated: “By obtaining the full control of Favorit, we serve our strategy to further invest in the Russian regulated betting market and become one of its major players. We are looking forward to continuing our successful operations in the country and providing Russian players with our exciting gaming offerings.”
Founded in December 2002, Favorit is one of the well-established betting companies in Russia. In March 2012, Favorit’ s 5-year license to run sports betting activities in the country - awarded in 2009 by the Federal Tax Service- was changed to a non-expiring license. Within its first 10 years of operations, Favorit has offered sports fans the opportunity to bet on football, basketball, tennis and other sports matches.
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