UK racecourse owner and operator Arena Racing Company (ARC) has purchased a 45-per-cent stake in i-neda Limited, a provider of technology to the global para-mutuel betting industry, as it steps up its investment in its technology partners.
ARC becomes an equal shareholder in i-neda alongside billionaire businessman Dermot Desmond.
I-neda recently won the tender to provide on-course tote services to Britbet, a racecourse pool-betting operation. I-neda provides wagering solutions across the US, Europe and Asia, and ARC said its experience and expertise in betting technology “sits harmoniously” alongside ARC’s position within the industry.
The two parties have collaborated for many years, working on a successful wagering project in Israel and, most recently, on the smooth implementation of Britbet across all ARC racecourses.
The move marks ARC’s latest investment in its technology partners. Last year, it acquired a majority stake in Greek firm Vermantia, a leading provider of multi-channel content solution for lotteries, gaming and betting operators.
ARC and Vermantia held an existing business partnership. Following ARC’s acquisition of a majority stake in Vermantia, the two parties launched the European Racing Channel, claiming it would provide the most complete offering of its kind worldwide for the betting market.
On ARC’s latest deal with i-neda, Kevin Robertson, group corporate development director, said: “As with all areas of our business, we always look to bring skills and expertise in-house where we can. i-neda have been a significant partner of ours for many years, so the opportunity to invest and work even more closely made complete sense.”