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SNAI sells majority stake to Global Games

Deal worth just over €139.7 million will see Global Games hold a 50.68 percent stake in leading Italian retail and online sportsbetting provider.

Friday 28th January 2011

Italian retail and online sportsbetting provider Sindacato Nazionale Agenzie Ippiche (SNAI) SpA has signed a deal to sell a controlling stake in its business to Global Games Srl. Global Games, which is is owned by Global Entertainment SA and Venice European Investment Capital SpA has agreed to purchase a 50.68 percent stake in the Italian operator for just over €139.7 million. Italy’s biggest betting shop operator with 900 branded outlets and over 2,500 smaller gambling stalls, SNAI also runs racetracks in Milan and rejected a takeover bid from private equity groups Bridgepoint and Axa Private Equity in December 2009.

Source: OnlineCasinoNews

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