Clifford Chance

Clifford Chance advises Allwyn on the award of the Lotto Game for EUR 2.23 billion to Lottoitalia, a joint venture with IGT/Brightstar Lottery

Global law firm Clifford Chance has advised Allwyn on the successful award by the Italian Customs and Monopolies Agency (ADM) of the tender for the management of the Lotto Game, Italy’s oldest lottery, to Lottoitalia S.r.l. Lottoitalia is a joint venture comprising Allwyn, Novomatic Italia, and Arianna 2001, with IGT/Brightstar Lottery as operating partner.

Clifford Chance assisted Allwyn, a leading multinational lottery operator, on all aspects of the transaction, including the negotiation and structuring of contractual frameworks and matters relating to the administrative procedure. The multidisciplinary team from the Milan and Rome offices was led by partner Umberto Penco Salvi, supported by senior associate Michele Bernardi, and included associate Dario Carnazza for corporate M&A matters. Administrative law matters were handled by senior associate Antonella Scarciello and trainee lawyer Alice Ventrella. Foreign investment control matters were managed by partner Luciano Di Via and associate Eleonora Zappalorto. All tax aspects of the investment were overseen by partner Carlo Galli and counsel Sara Mancinelli.

Lottoitalia secured the tender with a financial offer of EUR 2.23 billion, to be paid in three instalments by April 2026. The new authorisation will be valid for nine years, extending until 2034, and ensures the continued management of one of the country’s key numerical games under the guidance of a well-established alliance of operators.