Snaitech

The story of Snaitech begins not with a startup founder in a garage, but with the evolution of a state-controlled entity. Its roots trace back to Snai S.p.A., a dominant force in the Italian horse racing and sports betting market. For years, it operated within a highly regulated environment, a well-established name in Italian gaming. The landscape shifted in 2015 with a pivotal merger. Snai joined forces with Cogemat, a group founded by Lorenzo Pagnini that operated in the gaming machine and betting shop sector. This wasn't just a combination of assets; it was a strategic move to create a more integrated and powerful player in the Italian gaming and betting industry. The new entity, Snaitech, was born from this union, combining horse racing, sports betting, and gaming machines under one roof. This new chapter brought new ambitions. Snaitech listed on the Milan Stock Exchange, opening itself up to public investment and scrutiny. But the most significant event was yet to come. In 2018, the global gaming technology giant Playtech saw an opportunity. Playtech acquired a controlling stake in Snaitech and subsequently launched a mandatory takeover offer to acquire the entire company. The deal, valued at €846 million, marked the exit of Snaitech from the public market and its integration into a global powerhouse. This acquisition wasn't an ending but a transformation, providing Snaitech with the resources and technology to solidify its leadership in Italy and look beyond.