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Lottomatica in money transfer deal with Western Union
June 25, 2012 / 11:06 AM / 5 years ago

Lottomatica in money transfer deal with Western Union

MILAN (Reuters) - Lottomatica LTO.MI has signed a deal with U.S. group Western Union (WU.N), the world’s largest payment transfer company, to allow customers to make international payments from the Italian gaming company’s betting terminals.

People walk past a Western Union branch at Times Square in New York November 30, 2011. REUTERS/Eduardo Munoz

The deal means the 30,000 Lotto stores across Italy can now make payments through the Western Union money transfer system to 500,000 locations in 200 countries, Lottomatica said on Monday.

Lottomatica shares were down 2.2 percent at 1100 GMT, with the broader market .FTMIB down 2.7 percent.

New York-listed Western Union is a world leader in international payment systems, which made 226 million transactions worldwide in 2011 of a total of $86 billion in capital as well as 425 million commercial payments. (Reporting by Philip Baillie; Editing by Dan Lalor)

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