expands European presence with Ritzio International deal

Lottery broker and information portal has signed an engagement letter with European-focused gambling operator Ritzio International.

Terms of the agreement were not disclosed, but said the deal would support its plans to expand its presence in European markets.

Ritzio operates over 150 gaming halls across Germany, Romania and Belarus, running more than 3,800 gaming terminals and posting approximately €90.0m (£77.9m/$107.m) in annual revenue.

“This partnership is an important inroad as we expand our overseas operations and offer our products to new markets,” chief executive Tony DiMatteo said.

“Ritzio’s established presence and experience in the gaming industry is phenomenal and aligns well with our growth strategy.”

The deal comes after in February announced plans to go public on the Nasdaq exchange after reaching a definitive agreement for a merger with special purpose acquisition company (SPAC) Trident Acquisition Group.

The announcement came three months after owner AutoLotto and New York-listed Trident signed a binding letter of intent to acquire the broker in November 2020.

Also in February, announced it was to enter the Ukraine market, while in January it launched its online and mobile lottery offering in the US state of Colorado.

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