CasinoCityTimes.com

Home
Gaming Strategy
Featured Stories
News
Newsletter
Legal News Financial News Casino Opening and Remodeling News Gaming Industry Executives Search News Subscribe
Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter!
SEARCH NEWS:
Search Our Archive of Gaming Articles 
 

Scientific Games Completes EssNet Acquisition

22 March 2006

NEW YORK – (PRESS RELEASE) -- Scientific Games (Nasdaq: SGMS) announced today that it has completed the purchase of the online lottery assets of Swedish firm EssNet AB for 460 MSEK or approximately $60 million. The acquisition adds seven states in Germany, the national lotteries of Hungary and Norway, Golden Casket and Tattersall's Lottery in Australia, and other national lotteries, to its portfolio of customers. Essnet's 2005 online lottery revenues were approximately 314 MSEK or $40 million.

According to Scientific Games Chairman and CEO Lorne Weil, "The EssNet acquisition not only gives us some strong operations in Europe, especially Germany, but also an important foothold in Australia, one of the major gaming markets in the world."

EssNet operations will be integrated into the larger Scientific Games business over the next few months in a process expected to be completed in the second half of 2006.

< Gaming News

Scientific Games Completes EssNet Acquisition is republished from Online.CasinoCity.com.