Arena Racing Company (ARC) has acquired a 45% stake in i-neda Limited, a leading provider of technology to the global Pari-Mutuel betting industry.
Financial terms of the deal were not disclosed, but ARC becomes an equal shareholder in the business alongside billionaire businessman Dermot Desmond.
ARC is the biggest racecourse operator in the UK with 16 horseracing courses alongside two greyhound stadia in Newcastle and Sunderland, whilst i-neda provides horserace wagering solutions across the USA, Europe and Asia. Most recently, i-neda won the tender to provide on course Tote services to Britbet, the pool betting operation used across 55 British racecourses.
ARC said i-neda’s experience and expertise in betting and wagering technology dovetails with its position within the British racing industry and follows many years of proven collaboration. This includes the success of a wagering project in Israel and, most recently, the delivery and implementation of Britbet onto all ARC racecourses.
Kevin Robertson, ARC 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.”
Martin Pickering, i-neda CEO, added: “I-neda are dedicated to delivering the best wagering solutions in the world for horse racing and having ARC as key shareholder brings us into the heart of the industry, bridging racing content with wagering abilities.
“ARC's portfolio of data and events along with their insight and experience we will ensure i-neda products and services are at the cutting edge of technology and delivering exciting future wagering services for the market.”