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Apollo-Backed Gambling Firm Lottomatica Weighs $1 Billion IPO

Slotmachines in Stratosphere Casino
Photographer: Aaron Black/The Image Bank RF/Getty Images
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Lottomatica, the Italian gambling company backed by Apollo Global Management Inc., is considering a Milan initial public offering this year that could raise about $1 billion, people familiar with the matter said.

Lottomatica is working with banks including UniCredit SpA as it evaluates the listing, which could take place as soon as the second quarter, the people said. It’s considering seeking a valuation of around $5 billion including debt, according to the people, who asked not to be identified because the information is private.