Lottomatica cuts 348 jobs in Belgrade post-SKS365 merger
Table of contents
- Lottomatica dismissed 348 employees at its Serbian subsidiary PWO by Lottomatica, formerly SKS365, in a single working day.
- Italy’s Unione Sindacale di Base confirmed the layoffs and called for talks on AI’s impact on jobs, employee protections and workforce guarantees across the group.
- The closures follow the completion of a platform migration from SKS365 to Lottomatica’s proprietary system, raising questions about post-acquisition workforce treatment.
Editor’s note: This article has been updated following initial publication to include testimony from a former PWO by Lottomatica employee who contacted iGaming Republic directly.
Italian gambling operator Lottomatica has closed its Belgrade-based subsidiary PWO by Lottomatica, resulting in the dismissal of 348 employees.
The office, previously operating as part of the SKS365 Group under the Planetwin365 brand, was shut following the completion of a technical migration to Lottomatica’s own platform. The closures have triggered an outpouring of reaction across the industry, with former colleagues and executives publicly voicing support for those affected.
The Belgrade office and its role
Lottomatica acquired SKS365, the operator behind the Planetwin365 brand, in April 2024 for €639 million. The Belgrade IT team played a central role in the transition that followed.
According to multiple local reports, the team was tasked with migrating systems to Lottomatica’s new proprietary platform. Once that work was completed, the team became redundant.
The timing of the closure is hard to separate from Lottomatica’s integration milestones. In the company’s Q4 2025 earnings call, Chairman and CEO Guglielmo Angelozzi confirmed the SKS365 integration had been fully completed.
How the dismissals were carried out
Lottomatica told Telegraf that the decision was made for strategic reasons, as part of a deeper integration of PWO, with the aim of fully internalising key activities within the group’s central corporate functions. The company stated:
“The process was carried out in line with all valid laws and regulations, as well as relevant legal and procedural frameworks.”
That explanation has done little to soften the impact for those affected. Accounts shared on Reddit’s r/programiranje forum, purportedly from former employees, describe losing access to VPN and work computers in the middle of the working day. A dismissal email then arrived by the end of the shift. One account states that a colleague working on-site could not leave the building after their access card was deactivated and their computer locked.
Italy’s Unione Sindacale di Base (USB) confirmed the layoffs and expressed concern about the role of artificial intelligence in the decision. The union is seeking negotiations on three issues: the impact of AI on work processes, guarantees for employees across the group, and protections for those at risk of losing their jobs.
Update: former employee offers alternative view
A former employee who contacted iGaming Republic following initial publication disputed the AI framing entirely.
The source said none of the Belgrade roles were eliminated due to automation. The USB union’s references to artificial intelligence, they said, reflect a broader campaign around AI and job security rather than the specifics of what happened in Belgrade.
According to the source, the real driver was short-term financial optics, with the closure reducing operating expenditure and strengthening Lottomatica’s near-term financial profile ahead of investor milestones.
The source also challenged the efficiency logic behind the decision. Belgrade, they argued, was the most cost-effective operation in the group, cheaper to run than the Italian offices and cheaper than external providers the company was using elsewhere.
The source pointed to a longer-term structural problem: successive acquisitions had left the company with heavily overlapping teams, and no serious effort had been made to rationalise the combined headcount.
Industry voices support
The closures have prompted a public response from within the iGaming community. Savo Bakmaz, a former SKS365 executive now at MaxBet, shared a widely circulated LinkedIn post expressing both grief and solidarity with those affected.
“The closure of SKS365 Group / PWO by Lottomatica office in Serbia and the fact that 348 people are losing their jobs is one of those moments that truly makes you pause,” said Bakmaz. “Behind those 348 numbers are 348 real stories — families, ambitions, sleepless nights, effort, and pride in what they built.”
Bakmaz drew on direct personal experience working alongside former SKS365 colleagues at MaxBet.
“Several of my former colleagues from SKS365 joined me at MaxBet years ago. And they proved exactly what I already knew back then — they are reliable, hardworking, responsible, and they make a real difference.”
His post included a direct call to employers across the industry.
“If you are hiring — take a closer look at these people. You won’t just be hiring employees, you’ll be gaining individuals you can truly rely on.”
A stark contrast with financial results
The dismissals come as Lottomatica reports some of its strongest financial results to date. The company closed 2025 with revenues of €2.25 billion and adjusted EBITDA of €856 million, up 21% year-on-year.
Adjusted net profit rose 45% to €369 million. Online segment revenue grew 22% to €955 million for the full year. Lottomatica has also proposed a new share buyback programme worth approximately €700 million, replacing the prior €500 million plan.
The gap between those figures and the experience of the 348 dismissed workers has not gone unnoticed. Several analysts and commentators have pointed to a classic post-acquisition restructuring: the Belgrade team was brought on to complete the migration and let go once that work was done.
The role of AI remains an open question. USB has raised it explicitly, and Lottomatica’s own investor communications actively promote AI-driven efficiency gains across its business units. No official confirmation has been given that automation played a direct role in this specific decision.
Keep reading
About the author
Bianca Máthe
Bianca Mathe joined the iGaming industry in 2018 and has since built extensive experience across multiple verticals, working with international gaming organizations on editorial, marketing, and media strategy. She brings a strong understanding of the regulatory, commercial, and technological forces shaping the global iGaming sector.
Do you have a story worth sharing?
Send it over to our editors!
