King Africa

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“The market is moving beyond rapid expansion and becoming increasingly quality-driven. Operators will need to compete not only through marketing investment, but also through technology, product innovation, responsible gaming and customer experience.

Rossi takes a somewhat different view, describing Peru as a mature betting market while pointing to mobile penetration and a growing generation of digital consumers as sources of further growth.

“In my opinion it’s a mature market,” Rossi states. “Because historically, I believe Peru was one of the first betting markets in all of Latin America. Although the regulation was not there, betting was quite tolerated in the past.

About King Africa

He said Cirsa wass already a well-managed company and in previous deals, it had tried to make too many changes to an asset. “First of all, in many cases you had M&A which was of assets that were second tier. The promise was to completely change the nature and the competitive position of the asset, in many cases, a turnaround.

“In this case, it’s a completely different situation. You have a group, not a single company in a single country, a group which has been a solid group for 10 years and delivering. There’s no turnaround to be made. It’s already very well managed. It’s number one in its markets.”

The combined company will be listed on stock exchanges in both Spain and Italy, which Cirsa and Lottomatica are already market leaders in.Italy accounted for 57% of a combined group pro format adjusted EBITDA in H1. Spain made up 23% of that figure, with Rest of World at 20%.

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He also pointed to the self-exclusion mechanism adopted by the government.

“The debate about prohibition will remain open in the country for the next few years,” he said. “It will be an institutional debate between the Supreme Court, Congress and the executive branch.

Durigan did not indicate that the government would prohibit the activity.