BUSINESS

Equity partners take half of SNAI shares

TAGs: Italy, Snai

equity-firms-take-half-snaiWhether it was the video of Calvin Ayre and Rebecca Liggero enjoying fine wines in the rolling vineyards of Italy or the 28% growth the online gambling industry saw in 2010, companies are still looking to invest in the Italian market. One of the first to obtain a license and operate in Italy was SNAI who have now decided to sell off half their house to two investment firms.

efinancialnews.com has it that Investindustrial, a southern European private equity firm, and Palladio Finanziaria, an Italian investment firm, bought out the country’s largest racetrack and sports betting operator in a €140m deal.

The two private equity partners acquired 50.68% of the listed gaming company’s shares for €2.3646 each, through their investment vehicle Global Games.

Right now the Italian market is one model in Europe that is being championed due to the fact that they haven’t decided to turn their country into some kind of online gambling tax orgy. If you add this to the increasing popularity of tournament poker, it’s little wonder that companies are looking to Italy for growth.

Far from commenting on whether they were interested in gamblin’ drinkin’ and carryin’ on with us at CalvinAyre.com, it sounds from what they’re saying that it’s the market they have their covetous eyes on.

Investindustrial’s spokesperson said: “If you compare the Italian betting market to that of the UK, it is a younger and faster growing industry and it is less saturated than in the UK.”

You just wait until the UK hears about this Investindustrial. There will be a face punch coming your way and you can’t say that we didn’t warn ya!

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