NOVOMATIC Gaming Industries (NGI) has acquired a 60 percent stake in the video bingo company OtiumGI, S.L. and will present the new product offer at the upcoming G2E in Las Vegas.
Austrian gaming giant NOVOMATIC, via its subsidiary NOVOMATIC Gaming Industries (NGI), has purchased a 60 percent majority shareholding in the Spanish video bingo company OtiumGI, S.L. with headquarters in Barcelona. The deal instigates an initial business plan to provide a leading, state-of-the-art video bingo slot offer as well as service and support to the Mexican market via a local subsidiary company.
The new video bingo slots are a further expansion of the leading NOVOMATIC product portfolio and will be presented for the first time at G2E. With a distinctive look and premium quality design, the new bingo machines are expected to have an instant impact on the Mexican market and quickly gain significant market share. Future product development of the newly affiliated company will benefit from synergies and the vast experience of NOVOMATIC in international gaming markets.
Lawrence Levy, Senior Vice President for Central and South America, NGI, said: “We are delighted to announce this acquisition that has the potential to establish an excellent position for NOVOMATIC in the Mexican bingo segment and beyond. It further broadens our highly diversified product offer for the region and perfectly correlates with the Group’s ongoing commitment and strategic expansion in the Latin American markets.”
Santiago López de Lamadrid, CTO OtiumGI, said: “We are very proud to have reached this agreement with NOVOMATIC. After gaining much experience over the last few years in Mexican and Filipino markets with our video bingo products, we believe that NOVOMATIC is the perfect partner to build our brand, with the intention of becoming an industry benchmark.”
Fernando Ponce de León, COO OtiumGI, added: “For me, it is a great honor to partner with NOVOMATIC on this project, due to what the company represents internationally. We firmly believe that with our combined efforts, this project will exceed all expectations.”
© 2024 OTIUM Legal advice