Friday, July 27, 2018

Snaitech Enters Spanish Market, Playtech to Follow

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Snaitech Enters Spanish Market, Playtech to Follow
Snaitech Enters Spanish Market, Playtech to Follow

Italian developer, Snaitech, is making their first move to foreign markets by entering a deal that will see their brand of tech solutions delivered to Spanish players.

The company has managed to secure the B2B Spanish license (from their regulator, DGOJ) and will therefore swiftly introduce their Smart Technology offer to operators in this Western European nation.

What's on the Menu?

Snaitech will be putting various online and mobile app sports betting products, payment processing services and betting terminals...

The deal is being made with the help of BetSmart platform and Apuestas de Espana.

...And as Fabio Schiavolin, the company's managing director puts it: “The Snaitech universe is being transformed and is driving the company beyond its position as an Italian market leader. After launching in July, in the following months we want to expand our presence in the Spanish gaming sector in different autonomous communities.”

Impending Changes

Back in April, the software developing giant, Playtech, has completed the acquisition of Snaitech's 70.6% of shares for €846 million and has since been required to purchase the remainder of shares after securing approval from Italy's financial regulator, Consob.

At the moment, Playtech owns 96.5% of the Snaitech shares and will complete the full takeover on August 3rd.

This acquisition also means a change in personnel. Shiavolin will remain managing director of Snaitech until 2021, while Mor Weizer, Playtech CEO will become the chairman of the company.

Likewise, Playtech's Chief Financial Officer will be joining the board.

Weizer commented that this reshuffling would “improve the quality and diversification of group revenue, whilst delivering exposure to high growth end markets.”

Source:

“Snaitech enters Spain as Playtech deal nears completion”, igamingbusiness.com, July 26, 2018.

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