Snaitech joins German gaming brand HappyBet from Playtech
Snaitech Group, Playtech’s B2C gambling business in Italy, is set to integrate HappyBet into its operations, news emerged this week.
HappyBet is focused on providing B2C gambling services in Germany and Austria, where it operates more than 200 betting shops and offers online products to local customers. The annual turnover of the company amounts to approximately 20 million euros.
As part of the ongoing integration, HappyBet has returned to its original brand after operating as HpyBet for a short while.
With retail and digital operations, Snaitech is one of the leaders in the supply of gaming products in Italy. The operator joined the largest Playtech group in the summer of 2018, when the software central acquired the B2C activity for an amount of 850 million euros.
Besides its home market, Snaitech is now ready to expand its presence in two other major jurisdictions through the HappyBet integration. Commenting on the decision, Fabio Schiavolin, CEO of the Italian operator, said it would help HappyBet accelerate its growth as Germany prepares to regulate its gambling market.
Germany’s new gambling law is expected to come into force in mid-2021 after years of feuds between stakeholders and unsuccessful attempts for the country to revamp its sports betting and online casino and poker space.
Gain market share in Germany and Austria
Mr Schiavolin said the integration of HappyBet with Snaitech would provide the German-focused operator with access to more resources as it prepares for the country’s new regulatory regime. The brand could also benefit from Snaitech’s expertise extensive experience in business development and technology infrastructure, further noted the executive.
On how they plan to develop Operation HappyBet, Mr Schiavolin said they wanted consolidate and expand its position in the lucrative digital marketplace and that they will also be working on âTo gain market share in Germany and Austriaâ.
In addition, Snaitech plans to bring its retail and internet betting experience to Italy. Italy is one of the largest regulated gaming markets in Europe and the world and, as such, also ranks among the most competitive.
When Germany revamped its space in just a few months, it would also become a giant regulated space with great growth potential for locally licensed operators.
Regarding the on-going integration, HappyBet Germany Managing Director Michael Lessig said he was confident the move help the brand’s growth prospects and that they are delighted to be working with the Snaitech team on this.
Mr. Lessig went on to say that HappyBet and Snaitech share the enthusiasm and desire to establish themselves as one of the leading providers of B2C gambling services with German license and âEnter new market segments under the new regulations in 2021â.
In October 2020, HappyBet was one of the first operators to receive a license from the German authorities to operate in the local market.
Source: Snaitech acquires Happybet, European Gaming, May 13, 2021