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Tag: Betsson AB

  • Betsson Obtains Local Gaming Licenses in Peru

    Betsson Obtains Local Gaming Licenses in Peru

     

    A subsidiary of Betsson AB has obtained its first local licenses for the newly regulated market in Peru. The licenses cover online casino and sports betting for the Betsson and Betsafe brands. Further, licenses for the Inkabet brand are expected to be obtained soon.

    Betsson began its Latin American venture already in 2008 and has since then positioned itself as the most recognized sports betting brand in Peru. In 2019, the Group further strengthened its position toward the country with the launch of its Betsafe brand. Two years later Inkabet, a Peruvian-facing sports betting and online casino business, was acquired.

    Besides the new licenses, the Group holds licenses in two other key markets in the region, Colombia, and Argentina. In Argentina, Betsson holds licenses in Buenos Aires City, Buenos Aires province, and Córdoba.

    Pontus Lindwall, President and CEO of Betsson AB, said: “We have really looked forward to Peru introducing a local regulation and are very pleased with the issuing of these licenses. With this announcement, we affirm our commitment to the local economy and the new regulatory framework in the country.”

  • Betsson Obtains Local Gaming Licenses in Peru

    Betsson Obtains Local Gaming Licenses in Peru

     

    A subsidiary of Betsson AB has obtained its first local licenses for the newly regulated market in Peru. The licenses cover online casino and sports betting for the Betsson and Betsafe brands. Further, licenses for the Inkabet brand are expected to be obtained soon.

    Betsson began its Latin American venture already in 2008 and has since then positioned itself as the most recognised sports betting brand in Peru. In 2019, the Group further strengthened its position toward the country with the launch of its Betsafe brand. Two years later Inkabet, a Peruvian-facing sports betting and online casino business, was acquired.

    Besides the new licenses, the Group holds licenses in two other key markets in the region, Colombia and Argentina. In Argentina, Betsson holds licenses in Buenos Aires City, Buenos Aires province, and Córdoba.

    Pontus Lindwall, President and CEO of Betsson AB, said: “We have really looked forward to Peru introducing a local regulation and are very pleased with the issuing of these licenses. With this announcement, we affirm our commitment to the local economy and the new regulatory framework in the country.”

  • Betsson Becomes Principal Shirt Sponsor of Boca Juniors

    Betsson Becomes Principal Shirt Sponsor of Boca Juniors

     

    Betsson AB has secured its biggest marketing commitment for the Argentine market, becoming the principal shirt sponsor of Boca Juniors.

    Betsson had agreed to definitive terms to become Chief Sponsor of Boca, whose matchday shirt has been sponsor-less since July 2022. Betsson will pay $7.5m to place its brand on the front of Boca Junior’s matchday kit for the next 18 months.

    ​​Betsson has chosen not to disclose any “financial terms” related to the deal, but cited that its sponsorship would be based on the “values of passion for football and fair play, shared by Boca Juniors”.

    On Sunday night, Betsson was revealed as the new shirt sponsor to Boca fans, during the “Para Toda La Vida” farewell testimonial match of club icon Juan Román Riquelme – played at the La Bombonera Stadium, with Lionel Messi in attendance.

    In attendance at the match was Betsson Group CEO Jesper Svensson, who commented: “This is a historic match that will remain engraved in the hearts of all Boca Juniors fans and soccer lovers.”

    “The sport and soccer in particular are in Betsson’s DNA; That’s why not we could be left out of such a significant and important for the club with the most titles and most popular in the Argentina.”

    The sponsorship sees Betsson expand its presence in the AFA Primera Division, in which the sportsbook has formally served as sponsor of Racing Club.

  • BETSSON’S BRAND BETSAFE IS LIVE ON THE REGULATED MARKET IN ONTARIO, CANADA

    BETSSON’S BRAND BETSAFE IS LIVE ON THE REGULATED MARKET IN ONTARIO, CANADA

     

    Betsson has been granted operator and supplier licenses for online gaming on the locally regulated market in the province of Ontario, Canada, and a B2C offering has just been launched through Betsson’s global brand Betsafe. This step is in line with Betsson’s previously communicated market strategy for Ontario.

    Betsson has launched a broad B2C offering through its global brand Betsafe, including online casino and sports betting, for the locally regulated market in Ontario. Betsafe’s products will run on the platform of Strive Gaming (40%-owned by Betsson) and will be available to customers in Ontario via Betsson’s native mobile apps, available for download via Apple Store and Google Play store, as well as via the website ot.betsafe.com. Betsson’s product offering for Ontario has been localized to deliver a North American player experience.

    Betsson has also received a supplier license, which enables the group to also offer the sportsbook product on a B2B basis to other operators.

    Ontario, home to almost 40 percent of Canada’s 38 million inhabitants, is economically the most important province of the country and the online gaming market in the province is widely expected to become one of the largest in North America.

    Pontus Lindwall, President and CEO of Betsson AB, comments: “We are pleased to obtain the necessary licenses to operate with both a B2C and B2B offering in the locally regulated online gaming market in Ontario. We are convinced that there are great opportunities for Betsson in Ontario in both the B2C and B2B channels as we bring a highly competitive offering to the market.”

  • Betsson Completes Acquisition of Inkabet

    Betsson Completes Acquisition of Inkabet

     

    As of 1 October 2021, SW Nordic Limited, a subsidiary of Betsson AB, has completed the acquisition of Inkabet’s B2C online gambling business, a rapidly growing sportsbook and casino business targeting the western region of South America.

    Betsson’s ambition is to create shareholder value by outgrowing the online gambling market. The acquisition strengthens and expands Betsson’s presence in Latin America, a strategically important region for the company. Betsson expects the acquisition to increase scale in the business and to unleash synergies, being both revenue and earnings accretive from the fourth quarter of 2021 onwards.

  • Betsson Acquires 28% Stake in Canadian Start-up Slapshot Media Inc

    Betsson Acquires 28% Stake in Canadian Start-up Slapshot Media Inc

     

    Betsson Perch Investments AB, a subsidiary of Betsson AB (publ), has acquired 28% of the shares in Canadian start-up Slapshot Media Inc for the purchase price of CAD 3 million (SEK 21 million).

    The investment is in line with Betsson’s strategy of partnering locally in order to position itself in locally regulated markets and markets soon to be regulated.

    Slapshot Media is a Canadian company that specialises in creating localised sports content and provides marketing and managed services to the online gaming market in Canada. Slapshot Media will work exclusively with Betsson to build the presence of the Betsson Group in the upcoming regulation in the Canadian market.

    “This investment is another step forward in Betsson’s continued ambitions to grow in the North American market. The Canadian market represents a great opportunity for Betsson to increase the share of revenues from regulated markets. The local know-how and experience that the founders of Slapshot Media Inc possess will position Betsson well on the upcoming regulation of the Canadian market,” Pontus Lindwall, CEO of Betsson AB, said.

  • Betsson Acquires Inkabet

    Betsson Acquires Inkabet

     

    SW Nordic Limited, a subsidiary of Betsson AB (publ), has signed an agreement to acquire Inkabet’s B2C online gambling business, a rapidly growing sportsbook and casino targeting the western region of South America. The acquisition strengthens and expands Betsson’s presence in Latin America, a strategically important region for the company.

    The initial consideration of the acquisition is USD 25 million. Additionally, Betsson will pay up to USD 4 million depending on the performance of Inkabet in reaching the agreed revenue and EBIT targets during the six months following the closing, together with a deferred payment of USD 5 million (out of which USD 3 million is payable on 31 December 2022 and USD 2 million is payable on 31 December 2023 if no claims have arisen). The full purchase price is the equivalent of 3.8 times EBIT of the last 12 months ending June 2021. Financing of the acquisition is done through Betsson’s revolving credit facility (RCF), which gives an attractive financial flexibility to do deals of this sort.

    “Through this transaction, Betsson continues to build market share in the LatAm region, following the previous acquisitions of JDP Tech Ltd, Suaposta and Colbet. This strengthens our position in a strategically important region where we have performed well and have big ambitions for the future,” Pontus Lindwall, CEO of Betsson AB, said.

  • Betsson Acquires 50% Stake in JDP Tech Ltd

    Betsson Acquires 50% Stake in JDP Tech Ltd

     

    Betsson Perch Investments AB, a subsidiary of Betsson AB (publ) (Betsson), has acquired a 50% stake in the software development company JDP Tech Ltd, which owns a proprietary technology platform for handling LatAm payments. The consideration payable for the shares amounts to EUR 8.8 million. This allows Betsson to secure customer payment flows for the continued expansion in Latin America.

    In addition to the newly announced partnership agreement in Mexico, Betsson has been active in the LatAm region mainly in Peru, Brazil (acquisition of Suaposta), and Colombia (acquisition of Colbet). Furthermore, Betsson is in the process of obtaining a license for both the Province and City of Buenos Aires. This acquisition will strengthen Betsson’s position even further and support its growth strategy in the LatAm region.

    “LatAm is a strategically important region for Betsson and we see great future potential for the company there. With this strategic investment Betsson is well positioned to further expand our business in the LatAm iGaming market,” Pontus Lindwall, CEO of Betsson AB, said.

  • Betsson enters the US online sports betting market in Colorado

    Betsson enters the US online sports betting market in Colorado

     

    Betsson will enter the US online sports betting market by signing an agreement with its partner Dostal Alley Casino who will provide market access for Business-to-Consumer (B2C) online sports betting in the US state of Colorado. Betsson plans to launch its proprietary sportsbook in the first part of 2021, after regulatory approval.

    This is a strategic move reflecting Betsson’s drive to grow in new regulated markets, providing access for Betsson to the rapidly expanding online sports betting market in the US. The agreement is for an initial term of 10 years. This initiative is a first and cautious step into the US market, designed to benefit Betsson with key learnings, brand presence and initial customers. This new market entry reflects Betsson’s general business strategy of prudence where the aim is to grow in a financially safe manner, with low risk, ensuring a long term sustainable and growing business.

    Betsson has the ambition to build US presence, initially with a small office in Colorado. Betsson’s vision is to create the best user experiences in the market, tailored to regional customer needs and differences. The move also gives Betsson an opportunity to showcase the strength of its sportsbook in the US market and supports the ambition to sell its proprietary sportsbook to Business-to-Business (B2B) customers in the future.

    Colorado was the 18th state in the US to legalise online sports betting effective from 1 May this year, allowing 33 licences, each to include one, so called, `skin’. Gambling duty is 10% on Gross Gaming Revenue and customers are allowed to register and bet online while within the state borders. The online sports betting market in Colorado is estimated to reach approximately $200 million at saturation (source H2GC). Colorado is a wealthy state in the top-third of the US states by GDP with nearly six million inhabitants and growing. It is both a tech and sports hub with its own teams in major American sporting leagues.

    CinDee Spellman, CFO of Dostal Alley Casino comments: “As a company with over 28 years in the gaming business, we are thrilled to welcome Betsson to the US as we partner with them for online sports betting in Colorado. With their decades of experience in online gaming we are confident that they will bring the very best experience to players in the Centennial State!”

    Pontus Lindwall, CEO and President of Betsson AB says: “I am very excited to reach this milestone, further expanding Betsson’s global reach by entering a new continent through the fast-growing online market in the US. Dostal Alley Casino has more than 60 years of experience of doing business in Colorado and will play an important role in our journey to build US presence. The whole country has a strong culture of gambling and is now experiencing online penetration at accelerated pace, where consumers are transitioning from traditional retail outlets to also now bet on their mobile devices. We have followed the development in the US closely since the possibility of a repeal of the PASPA and have carefully considered ways to enter the market. We are now looking forward to exploring the potential with our proprietary sportsbook.”

     

    About Betsson AB:

    Betsson AB (publ) is a holding company that invests in and manages fast-growing companies within online gaming. The company is one of the largest in online gaming in Europe and has the ambition to outgrow the market, organically and through acquisitions. This should be done in a profitable and sustainable manner, primarily in locally regulated markets. Betsson AB is listed at Nasdaq Stockholm, Large Caps (BETS). www.betssonab.com

     

    SOURCE Betsson AB