Racing Post – 10th May 2019
Arena Racing Company (ARC) has bought a major stake in tote technology firm i-neda, the company which provides the platform for racecourse pool betting operation Britbet. ARC has taken a 45 per cent stake in the Hampshire-based company, becoming an equal shareholder with billionaire businessman Dermot Desmond.
The purchase is the latest example of ARC taking a stake in their technology partners. Last year the racecourse group bought a majority share in Greece-based Vermantia, which provides data and pictures of horse and greyhound racing to 32 countries worldwide.
I-neda had been due to run the pool for all the 55 British racecourses involved in the Britbet project before agreement was reached to work with the Tote and their partners Alizeti. However, i-neda continues to run all of the on-course operations in terms of bet acceptance technology for Britbet and this deal may ruffle feathers among the other courses involved.
ARC’s group corporate development director Kevin Robertson 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. We are delighted to formalise our partnership in this manner.”
I-neda has horseracing deals across the US, Europe and Asia and it is hoped the involvement with ARC will give them further credibility in those markets. Chief executive Martin Pickering said: “I am delighted to welcome ARC to our board. I-neda are dedicated to delivering the best wagering solutions in the world for horseracing 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 will ensure i-neda products and services are at the cutting edge of technology and delivering exciting future wagering services for the market.”