Gauselmann Group has formed a new joint venture to acquire Intralot-owned Polish betting operator Totolotek.
Poland’s Office of Competition and Consumer Protection (UOKiK) has received an application from XTIP Polska regarding a takeover offer for Totolotek for an undisclosed amount.
XTIP Polska is a joint venture between Gauselmann’s Merkur Sportwetten and venture capital firm TMT Investments.
Totolotek was founded in 1992 and is the leading betting operator in Poland with more than 260 betting points across the country. It was acquired by Intralot in 2005 and offers popular fixed odds betting games such as Toto-Mix, Toto-Liga and Toto-Gol.
The operator has been online in Poland since being granted license approval in 2013, and is currently the only operator allowed to offer betting on horseracing and greyhound racing.
Totolotek is the official sponsor of Polish football club Lechia Gdańsk, as well as the PZPN Polish Cup. It also supports the Legia Warsaw basketball team, as well as Polish volleyball champions PGE Skra Bełchatów.
Shares in Intralot SA (ASE:INLOT) were trading down 6.38 per cent at €0.44 per share in Athens Thursday morning.