Central Europe’s online gaming business has a newly upsized major player in Snaitech, one of the legal gaming concessions in Italy.
The company has taken control of Happybet, an operator with revenues of about €19m and with over 100 employees and 200 points of sale in Austria and Germany. The acquisition will enable Snaitech to grow its business in the region, said the company’s CEO Fabio Schiavolin.
He said: “The integration of Happybet, one of the first companies to receive a national sports betting licence in Germany, and which will continue to operate under its own brand, has accumulated enormous skills and achieved a solid market position.
"Now we want to capitalise on this experience. The integration of our expertise and our know-how with those of Happybet will put us in the ideal condition to seize new growth opportunities."
Snaitech, part of Playtech, had revenues of over €520m in 2020 and a network of 2,100 betting points. In a press release the company said that the German and Austrian markets recorded overall betting values of over €10bn in 2019, a figure that it believes will grow.
“In both countries the market is currently quite fragmented, with a few large players and many small operators," added Schiavolin.
