Prior to market regulation, Snaitech integrates a German gambling brand
Industry News

Prior to market regulation, Snaitech integrates a German gambling brand

This week, it was announced that Snaitech Group, Playtech's B2C gambling company targeting Italy, would be incorporating HappyBet into its operations.

In Germany and Austria, where it operates more than 200 betting shops and serves local clients online, HappyBet focuses on offering B2C gambling services. The company generates about €20 million in revenue each year.

After briefly operating under the name HpyBet, HappyBet has reverted to its former brand as part of the ongoing integration.

Snaitech is a pioneer in the Italian gaming industry, operating both in retail and online. In the summer of 2018, the operator became a part of the larger Playtech group when the software giant paid €850 million to acquire the B2C company.

Through the HappyBet integration, Snaitech is now prepared to increase its presence outside of its home market in two additional significant countries. Fabio Schiavolin, CEO of the operator with operations in Italy, commented on the decision, saying that it will aid HappyBet in accelerating its growth as Germany intensifies its efforts to regulate its gaming sector.

After years of wrangling among stakeholders and failed attempts by the nation to reorganize its sports betting, online casino, and poker space, Germany's new gambling law is scheduled to go into force in mid-2021.

Increasing Market Share in Austria and Germany

According to Mr. Schiavolin, HappyBet's merging with Snaitech will provide the company more resources to draw upon as it gets ready for Germany's new legal framework. The CEO added that the brand would also gain from Snaitech's extensive business development and technological infrastructure knowledge.

Mr. Schiavolin described his strategy for growing the HappyBet business as wanting to "consolidate and increase its position in the lucrative digital industry" while also working to "earn market shares in Germany and Austria."

Snaitech also intends to contribute its expertise from the retail and online betting sectors in Italy. Italy is among the most competitive and one of the biggest regulated gambling markets in both Europe and the world.

Germany will soon reorganize its market, making it a massive, regulated arena with significant development possibilities for locally licensed businesses.

Michael Lessig, managing director of HappyBet Germany, commented on the continuing integration by expressing his belief that it will improve the brand's growth prospects and his company's happiness at working with the Snaitech team on it.

Mr. Lessig continued by stating that HappyBet and Snaitech "to enter new market categories as part of the new regulation in 2021" and "to establish themselves as one of the leading suppliers of B2C gambling services with a German license."

One of the first companies to be granted a permit by German authorities to conduct business in the local market was HappyBet back in October 2020.

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