Betsson AB
Betsson Acquires 35% Stake in Strive Platform
Betsson Perch Investments AB, a subsidiary of Betsson AB (publ), has acquired a 35% stake in Strive Platform Ltd (Strive) for a total amount of USD 6.5 million.
Upon launch in the US, planned for the second half of 2021, Betsson has an option to increase its shareholding in Strive by another 5% for the consideration of USD 1 million. Betsson will also grant to the company a convertible shareholder loan facility of USD 2.5 million.
In the Q4 2020 report, Betsson announced an agreement with TG Lab, a leading international iGaming technology and development company. Through the agreement, Betsson is able to utilize the company’s new, purpose built and modern US iGaming platform, i.e. Player Account Management system (PAM) to support Betsson’s launch on the U.S. market. TG Lab has since then created Strive, a North American specific entity encompassing this new technology, intellectual property rights, and market-leading expertise, in which Betsson now invests.
“This investment is another important milestone in our US entry. The investment will support our B2C launch with the Betsafe brand in Colorado as well as broaden Betsson’s offering to the US market. The US market has a limited number of PAMs and sportsbooks that are truly set up for the multi-state regulatory environment and scale. This investment brings together two high quality independent iGaming technologies for the US market,” Pontus Lindwall, CEO of Betsson AB, said.
Powered by WPeMatico
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 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.”
Powered by WPeMatico
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.
Powered by WPeMatico
-
Australia6 days agoVGCCC Fines BlueBet AU$50,000 for Gambling Advertising Breaches
-
CGS Awards6 days ago
CGS Events Revolutionizes the Chilean Gaming Scene with the Launch of CGS Santiago in its Fourth Edition
-
Latest News6 days ago
DGA: Danes’ Gambling Spend Increased in February 2024
-
Endorphina Press Releases6 days ago
Endorphina introduces its newest title – Moon Tiger!
-
Brazil6 days ago
Vibra Gaming launches VLT division
-
EurAsia6 days ago
The “Power Has No Gender” awards ceremony held by TotoGaming has reached a new level
-
Bradley Khoury6 days ago
eCOGRA Authorized to Offer Certification Services in Brazil
-
Balkans5 days ago
Anakatech Incorporates GameArt’s High-Quality Slot Titles into Cutting-Edge Platform
