The integration into Snaitech, which was acquired by Playtech in an €846m deal in June 2018, is designed to accelerate HappyBet’s growth, Snaitech chief executive Fabio Schiavolin explained.
Schiavolin said that it would provide the business with access to more resources, as well as Snaitech’s experience in business development and technological infrastructure.
“First and foremost, we want to consolidate and expand the brand’s position in the online market,” Schiavolin said. “At the same time, we will work on gaining market shares in Germany and Austria.
“We will bring our experience in the field of retail and online betting from Italy, one of the most competitive markets in the world, to the table.”
As part of its integration, it has returned to the HappyBet brand after a stint operating as HpyBet.
This, Snaitech explained, would take the company “back to its roots” as well as presenting the business as offering “fun and exciting” betting products in a pleasant environment.
Founded in 2017, HappyBet operates around 200 betting shops across Germany and Austria, as well as an online offering, with annual turnover totalling €20m. It was one of the first operators to secure a federal sports betting licence in Germany, in October last year.
HappyBet Germany managing director Michael Lessig added he was confident that the integration would aid the business’ growth prospects.
“I am also pleased to be working with the Snaitech team, with whom we share the enthusiasm and desire to establish ourselves as one of the top providers with a German license and to enter new market segments as part of the new regulation in 2021,” he said.
Snaitech’s B2C operations generated revenue of €522.7m in 2020. While this was down year-on-year, as a result of novel coronavirus (Covid-19) shuttering its retail estate for much of the year, Playtech chief executive Mor Weizer noted that online betting and gaming revenue was up more than 58% for the period.