MCP private equity house takes majority share in Italy's Microgame
A private equity fund has taken a majority shareholding in Italian egaming business Microgame, the number one service provider in Italy.
A PRIVATE EQUITY FUND has taken a majority shareholding in Italian egaming business Microgame, the number one service provider in Italy.
Cambria, the investment fund that owns a majority shareholder in, has sold its stake in Microgame, which has market shares in poker and sports betting of 25% and 28% respectively, to private equity fund Monitor Clipper Partners (MCP).
As a result of the transaction, MCP will own up to 70% of the share capital of Microgame, which recorded turnover of £404m at financial year-end, while founding shareholders Fabrizio D’Aloia and Massimiliano Casella will reaffirm their commitment by reinvesting in the remainder.
Fabrizio D’Aloia said: “The agreement we have signed with Monitor Clipper Partners will allow us to further invest in our core provider business and offer a more complete and competitive a range of gaming services to our operator customers, who are our engines of success.
“MCP’s presence will allow us to make better decisions around our future growth and further consolidate our position in the Italian market. Among our future objectives is to export our model abroad, taking advantage of the opportunities that will be created from the opening of new important European markets.
Microgame, founded in 1996, is a gaming service provider authorised by the Italian Autonomous Administration of State Monopolies (AAMS). D’Aloia will remain chairman of the business, and chief executive and Casella will remain head of sales and marketing.
MCP was set up in 1999, and specializes in management buyouts, recapitalisations and growth equity transactions for mid-sized companies. Cambria, presided over by Mario Mauri, tooks its stake in Microgame in 2007. To date it has invested US$1.5bn.
The companies would not confirm the price of the transaction.
In other Italy news today, Leisure & Gaming announced its third-quarter results, showing amounts wagers more than doubled on the same period the year before.
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