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NEW SNAI OWNERS HAVE AMBITIOUS MERGER PLANS

posted 3/9/11 : Alliance with Cogetech creates a formidable on and offline Italian gambling group
 
A merger between Italian betting group SNAI and the Cogetech group should transform both companies and create a strong offline and online sports betting presence, according to reports in the Italian daily newspaper Il Corriere della Sera.
 
The newspaper spoke with Andrea Bonomi, president of Investindustrial, a company that partnered with Palladio Finanziaria to acquire a 50.68 percent interest in SNAI two weeks ago following protracted negotiations.
 
Bonomi revealed that the strategy was for SNAI to become “the big one” in sports betting, and to be a major force in video lottery terminals (VLTs) as well. There are also plans to enhance the company's offerings in online poker and bingo, expanding SNAI activities far beyond its traditional involvement in racing and football betting.
 
The merged SNAI-Cogetech group will provide strong competition for rivals Sisal and Lottomatica in the Euro 48 billion Italian market, the newspaper noted.
 
Last year Sisal made a bid for SNAI  which was reportedly carrying a debt burden of some Euro 250 million. Earlier still, SNAI was also a target for a British-French consortium made up of Bridgepoint and Axa Private Equity in a deal which collapsed at an advanced stage of negotiations. SNAI instead decided to re-finance its debts through a bond sale.

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Gambling News :

More Computers Smashed in Online Gambling Raids - More computers seized in police online gambling raids were trashed Monday when the Serdang police destroyed 1,312 machines to keep them out of circulation.

2017 Aussie Millions Event 1 - The Melbourne-based player bested a field of 1,565 entries - 245 up on last year's equivalent - to end up in the heads up with New Zealnad's Qiang Fu, but not before both he and Qiang had narrowly escaped at the four-handed stage when they were the low stacks.

Swiss Reject idea to Block Gambling Websites - The Legal Affairs Committee of the Swiss National Council has nixed new regulations which would have blocked access to online gambling sites in Switzerland, according to local media reports Tuesday.

Growth Ahead For Online Gambling - Transparency Market Research has issued a teaser on its latest international online gambling and betting survey, forecasting that the industry will grow at a Compound Annual Growth Rate (CAGR) of 10.8 percent by 2024.

New Qubit software For SkyBetting - #qubit Sky Betting & Gaming aims to top its record 50 percent revenue growth last year with new player differentiation software and expertise provided by the Qubit company.

Slotfather II Slot Launching - #betsoft The first is a sequel to the popular gangster-themed online slot Slotfather, unsurprisingly titled Slotfather II, whilst the other is a new 243 ways-to-win game titled Fa Fa Twins..

Massachusetts Online Lottery Bill - Flanagan's confidence was clearly boosted by the bill's success in the Senate last year, although it was not developed by the House and ran out of time.

Italy Doing Well With Online Sports betting - The latest numbers from the Italian regulator show that online sports betting remains king when it comes to internet gambling in the market, generating Euro 391.8 million in turnover in December 2016.

Michigan To Reintroduce Online Gambling Bill - #Michigan state Sen. Mike Kowell's staff have confirmed that the senator plans to reintroduce his online gambling legalization bill, which failed to make it through the last legislative season.

MGM Buys DC office building For lobbying team - #MGM Resorts International has bought a new Washington, D.C., office building for its in-house lobbying team, led by former chief counsel to the now retired Nevada Sen. Harry Reid, Ayesha Khanna.

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