• Home
  • News
  • People
  • SKS365 CEO Martin steps down as Lottomatica acquisition completes
igamingnext photo
Alexander Martin decided to step down as CEO of SKS365 as Lottomatica confirms that it has completed the acquisition of the Malta-based operator.

Martin said he made the decision due to “inherent changes” to his role as a result of the business combination.

Last November, the Italian gambling giant made headlines by agreeing to acquire SKS365 at an enterprise value of €639m.

“It has been my great honour to lead SKS365 since 2019. Together, we have built an excellent and successful company.

“Our consistently growing financial results have been evidence of our unwavering commitment to excellence and resulting in new heights yearly,” Martin wrote in a LinkedIn post.

“Throughout my tenure, we have faced several industry and business challenges, but with resilience and teamwork, we have overcome them,” he added.

Martin stated that over the years, SKS365 has significantly enhanced its product offerings and customer experiences, transforming into an “attractive, innovative, and profitable company.”

“A new chapter”

He believes that the acquisition by Lottomatica marks the “start of a new chapter” for SKS365.

“Being part of the group provides a robust platform for SKS365, offering an excellent foundation for sustained growth and continued success for our company,” he said.

Prior to his role as CEO of SKS365, Martin held key positions with prominent gaming companies, including a tenure as chief new media officer and executive board member at German gaming giant Gauselmann.

His experience also includes 15 years as a management consultant for consultancy firm A.T Kearney.

Lottomatica said it will provide an update of its FY 2024 guidance incorporating the expected results of SKS365 as soon as practicable.

Lottomatica’s acquisition of SKS365 effectively ended a fierce bidding war involving Lottomatica, Flutter Entertainment, and Playtech.

When announcing the deal, Lottomatica said it expects the combined entity to boast a market share of around 28.3% – well ahead of its largest competitors Flutter Entertainment, with 20.1%, Playtech with 9.8% and Entain with 9.5%.

Additionally, Lottomatica mentioned that, at the time, the enlarged group was projected to command a market share of 34.7% in the sports betting market, encompassing both online and retail.

The group also anticipated that the merger would generate synergies amounting to approximately €65m by 2027.

Similar posts