With the imminent completion of the purchase of lottery software supplier Spinola Gaming, international gaming operator HeadsUp Entertainment, which owns sports betting brand VIP Bet, has made a significant step toward strengthening its position in the worldwide lottery market.

HeadsUp Acquires All Shares of Spinola Held by Third Parties

HeadsUp has announced the completion of the next phase leading to the purchase of Spinola Gaming, the world’s largest producer of lottery software. The business has acquired all shares of Spinola owned by third parties and is now prepared to complete its purchase of the lottery software supplier. This step was required for the complete purchase of Spinola’s assets.

HeadsUp commissioned two different assessors to analyze the value of the transaction. According to one of the evaluators, Spinola is worth $65 million, while another evaluator puts its value at $72 million. The potential income from the transaction was expected to be $150 million or much more, given that several new contracts are now being negotiated.

Spinola Acquisition Kicks Off Expansion into Lottery Sector

The purchase of Spinola will play a crucial role in HeadsUp’s worldwide development into new markets in the lottery industry, as the lottery software supplier already has significant contracts in Colombia, Peru, Brazil, and other Latin American nations. These markets are booming in terms of the lottery industry and provide tremendous growth and income prospects. Spinola’s holdings also include licenses for many European and Latin American nations.

In addition, Spinola is planned to offer additional products in six African nations beginning in the fourth quarter of 2022. The business will also launch the first national lottery in the United Arab Emirates, with the largest payout ever awarded in a lottery globally. The majority of the approximately $300 billion in annual revenues generated by the worldwide lottery sector originate from offline transactions. As more and more suppliers move their national lottery products online, this creates a unique potential for expansion.

15-20% of the worldwide lottery market is anticipated to go online during the next several years. This represents a market share of between $45 and $60 billion in annual internet sales.Recently, HeadsUp purchased the lottery information site LotteryHub. Together with the Spinola purchase, HeadsUp is now positioned as a global leader in the lottery industry and will have the possibility to capture a significant portion of these new online activities in the future years.