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Lottomatica CEO Guglielmo Angelozzi described its merger with Cirsa as a “low-risk proposition”, during an investor call detailing the deal on Wednesday.

The Wednesday announcement promised the merger of the two listed gaming giants would create the second-largest listed global gaming and sports betting operator, with a pro forma adjusted EBITDA of approximately €2 billion ($2.3 billion).

Angelozzi, who is set to lead the combined company as CEO, told analysts on the post-announcement call that the deal was expected to be a “low-risk proposition” given the consistent growth demonstrated by both Lottomatica and Cirsa in recent years.

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Raja, who has publicly described himself as the company’s founder, did not formally become a registered director until 2017.

Raja has characterized the allegations and media reporting against him as a “personal vilification campaign.”

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Matt is primarily responsible for long-form feature coverage on complex sports betting scandals. He also provides coverage on finance, M&A and other technological developments.