Italian gaming operator SNAI has withdrawn from its proposed €140m acquisition of rival Cogetech following the recent Corte dei Conti ruling against the two companies and seven other video lottery terminal (VLT) concession holders.

SNAI entered into an agreement in January to purchase at least 96 per cent of Cogetech (Cogemat S.p.A) as a means of strengthening its position in the Italian sports betting, horse race betting and gaming machines segments.

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