Industry News

Snaitech Acquires Happybet

Published

4 years ago

May 13, 2021

Niji Narayan

Reading Time: < 1 minute

Snaitech, the Italian business arm of gambling technology supplier Playtech, has acquired Happybet, an operator with revenues of about €19m and with over 100 employees and 200 points of sale in Austria and Germany.

Snaitech CEO Fabio Schiavolin 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 had revenues of over €520m in 2020 and a network of 2100 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,” Schiavolin added.

Related Topics:Happybet Playtech Snaitech Snaitech CEO Fabio Schiavolin

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.