Novomatic takes majority stake in OtiumGI

Novomatic Gaming Industries (NGI), a subsidiary of Novomatic, has acquired a 60% stake in Spanish video bingo company OtiumGI. Although financial details of the deal were not disclosed, it was confirmed that the agreement will instigate an initial business plan to provide a video bingo slot offer to the Mexican market through a local subsidiary company. Novomatic said in a statement that it expects the new bingo machines to have an “instant impact” in Mexico, adding that future product development within the newly affiliated company will benefit from its expertise in the global gaming market. “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,” NGI senior vice-president for Central and South America, Lawrence Levy, said. “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, chief technology officer at OtiumGI, added: “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.” Related article: Novomatic reveals record turnover in first half