Novomatic Purchases HBG Group

Betting group Novomatic has purchased Italian betting firm HBG Group, and is absorbing all of the company's retail video lottery terminals, bingo businesses, sportsbetting, and online betting assets moving forward.

The terms of the purchase weren't made publicly available, but the move is part of Novomatic's continued expansion into the Italian gaming market. The company previously purchased Admiral Sport in February, and its Greentube subsidiary purchased Capecod Solutions. With this latest purchase, there'll now be over 3,000 Novomatic employees in Italy.

The acquisition has already been approved by the Italian Autonomous Administration of State Monopolies and has been completed.

Regarding the purchase, Novomatic executive board member Ryszard Presch said, "With this acquisition, Novomatic is sending a clear signal of further international expansion and can double its market share as a concessionaire in one of the key European gaming markets."

Novomatic Italia CEO Markus Büchele also commented, noting: "In the year of our 15th anniversary in Italy, we can continue on a very successful path thanks to a great partnership with HBG and grow further together."