Playtech’s Snaitech group joins German company HappyBet | Sports betting
The Snaitech Group, the B2C branch of Playtech focused on Italy, will swallow up another of the consumer brands of the gaming solutions giant, HappyBet, focused on Germany and Austria.
The integration into Snaitech, which was acquired by Playtech under a â¬ 846 million deal in June 2018, is designed to accelerate the growth of HappyBet, explained Fabio Schiavolin, CEO of Snaitech.
Schiavolin said this would provide the company with access to more resources, as well as Snaitech’s experience in business development and technology infrastructure.
âAbove all, we want to consolidate and expand the brand’s position in the online market,â said Schiavolin. âAt the same time, we will work to gain market share in Germany and Austria.
âWe will bring our retail and online betting experience from Italy, one of the most competitive markets in the world, to the table. “
As part of his integration, he returned to the HappyBet brand after switching to HpyBet.
This, Snaitech explained, would take the company “back to its roots” and present the company as offering “fun and exciting” betting products in a pleasant environment.
Founded in 2017, HappyBet operates around 200 betting shops in Germany and Austria, as well as an online offer, with an annual turnover of 20 million euros. It was one of the first operators to obtain a federal sports betting license in Germany, in October of last year.
HappyBet Germany Managing Director Michael Lessig added that he was confident the integration would help the company’s growth prospects.
âI am also delighted to work with the Snaitech team, with whom we share the enthusiasm and desire to establish ourselves as one of the leading suppliers with a German license and to enter new market segments within the framework of the new regulations in 2021. âhe said.
Snaitech’s B2C operations generated a turnover of 522.7 million euros in 2020. While this figure was down year on year, due to the new coronavirus (Covid-19) closing its retail fleet for much of the year, Playtech chief executive Mor Weizer noted that online betting and gaming revenues are up more than 58% over the period.