Balkans
Flutter Entertainment Buys 51% Stake in Serbia’s MaxBet
Paddy Power and Fanduel owner Flutter Entertainment said it had bought an initial 51% stake in Serbia’s second biggest sports betting and gaming operator MaxBet for €141m in a bid to expand in the Balkans.
Flutter said the deal allows it to acquire the remaining 49% stake in 2029 on similar terms.
It added that the deal aligns with its strategy to target fast-growing, regulated markets where it can combine local expertise with its global pricing and technology.
Flutter, the world’s largest online betting company, said the €700m Serbian betting market is attractive due to its relatively low online penetration of around 35% and expected online compound annual growth to 2025 of about 15%.
MaxBet, which generated pro forma fully regulated revenue of €145m in the year to June, 44% of it online, also has a smaller presence in Bosnia, Montenegro and North Macedonia.
It has an estimated 20% online share as well as over 400 retail outlets across four markets, a well-known local brand and 95,000 online average monthly players.
Flutter, which makes 78% of its revenue in its main divisions of the US, Australia and Ireland and the UK, operates in more than 100 countries around the world.
Peter Jackson, Flutter’s chief executive, said today’s acquisition continues the company’s progress against the strategic priorities it has set for its International division; to buy and build podium positions in regulated markets.
“We believe MaxBet is an excellent opportunity to replicate the success we have achieved in markets like Georgia, India and Italy by acquiring a strong brand in a podium position, where we see a compelling opportunity to combine that extensive local expertise with the power of the Flutter Edge to accelerate and transform growth,” the CEO added.
The deal is subject to customary regulatory clearances and is expected to close in the first quarter of 2024.
Balkans
Evoplay joins forces with Slotino to expand Bulgarian reach
Evoplay, the award-winning game development studio, has further strengthened its presence in Bulgaria through a new partnership with prominent local operator Slotino.
As part of the collaboration, 75 of Evoplay’s top-performing games, including Camino de Chili Bonus Buy, Mega Greatest Catch, and Hot Volcano, are now available to Slotino’s customers in the Balkan country.
The agreement marks a significant milestone for Evoplay in expanding its reach in the Bulgarian market, offering Slotino players a diverse selection of high-quality titles designed to enhance user engagement and retention.
Slotino, a trusted name in the Bulgarian market, reinforces its position as a leading operator in the region by offering the curated collection of Evoplay’s premium and proven games.
Ihor Zarechnyi, CBDO at Evoplay, said: “This partnership with Slotino represents an important step in our growth strategy for Bulgaria. By bringing our portfolio of innovative and engaging games to a new audience, we’re confident that we can drive strong performance and engagement in this key market.”
Vasil Stumbov, Director at Slotino, added: “We’re excited to bring Evoplay’s diverse and high-performing game selection to our players. This partnership allows us to enhance our offerings with fresh, engaging content that will resonate strongly with our audience. We look forward to the opportunities this collaboration will bring.”
The post Evoplay joins forces with Slotino to expand Bulgarian reach appeared first on European Gaming Industry News.
Balkans
Spinomenal strikes partnership with Admiral Croatia
Spinomenal, the leading iGaming content provider, has struck a new content partnership with Admiral Croatia.
Admiral Croatia will now be able to access Spinomenal’s extensive range of casino games. These include popular titles such as Baba Yaga Tales, Egyptian Rebirth II and Book of Diamonds. The games will be accessible and integrated via the Bragg Gaming Group platform.
Lior Shvartz, CEO for Spinomenal commented: “We are very happy to announce this latest deal with Admiral Croatia, a pioneering force in the country’s online casino market. Croatia is an important market for us and we expect our games to resonate with casino players here.”
The post Spinomenal strikes partnership with Admiral Croatia appeared first on European Gaming Industry News.
Balkans
EGT is a “True Leader” again, according to ICAP CRIF
The excellent results for 2023 brought EGT a “True Leader” prize for another year in a row. At a special ceremony, which was held at the Hilton Hotel in Sofia on 11 December, the company received the prestigious accolade, given in recognition of the outstanding performance of the 300 most successful enterprises from all industries in Bulgaria.
EGT is a leader in the sector “Development and manufacturing of products for the gaming industry.”
Jeni Koussarova, Marketing director at the company, took the award. She said: “We are proud to receive this distinction again. EGT is not only among the leading companies in the Bulgarian economy but also one of the top manufacturers and suppliers of gaming solutions on a global scale, with our products and services currently enjoying popularity in more than 100 markets on 5 continents. We would not have achieved all these successes without the dedication and enthusiasm of the talents we have worked with for 22 years. The “True Leader” award inspires us to strive for even higher heights.”
The “True Leader” initiative is organized for the twelfth consecutive year by ICAP CRIF, the market leader in Credit Risk & Business Information Solutions in Southeastern Europe. The ranking is created based on officially published data and uses only measurable and objective indices. The participating companies have met four main criteria: they are among the most profitable enterprises in 2023 measured with EBITDA (Earnings before interest, taxes, depreciation, and amortization), have kept or enhanced the number of their staff in the relevant year compared to the previous, stand out with high creditworthiness (Credit Score A1 to B2) and hold leading positions in the industries in which they operate.
The post EGT is a “True Leader” again, according to ICAP CRIF appeared first on European Gaming Industry News.
-
Australia6 days ago
Regulating the Game Announces its Latest Addition to its 2025 Masterclass Series in Sydney
-
Latest News6 days ago
Week 50/2024 slot games releases
-
Compliance Updates6 days ago
Florida Gaming Control Commission Collaborates with Local Law Enforcement Partners to Address Illegal Gambling Activity and Shut Down Illegal Casinos
-
Latest News6 days ago
Veikkaus signs partnership agreement with the Finnish Ice Hockey Association
-
Compliance Updates6 days ago
Advertising Standards Authority Partners with Grambling Regulatory Authority of Ireland
-
Central Europe6 days ago
SYNOT Games teams up with win2day to revolutionize Austria’s iGaming scene
-
Betson Enterprises6 days ago
Betson Appoints Todd Cravens as SVP of Gaming Division
-
Canada6 days ago
Play’n GO announces partnership with Canadian operator PointsBet