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Flutter Entertainment Buys 51% Stake in Serbia’s MaxBet

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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.

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Expanse Studios Signs Content Distribution Deal with Lobbet

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Expanse Studios, a subsidiary of Golden Matrix Group, has signed a content distribution agreement with Lobbet, a licensed sports betting and iGaming operator in Montenegro and part of the Fortuna Entertainment Group (FEG). The distribution will be delivered through DualSoft, a leading aggregation platform with an established footprint across regulated European markets.

Under the agreement, Lobbet will integrate Expanse Studios’ proprietary iGaming content into its online offering, expanding the availability of Expanse titles within the Montenegrin regulated market. DualSoft will facilitate distribution and technical integration, enabling scalable deployment across its broader operator network.

The transaction further strengthens Expanse Studios’ presence in regulated European markets and supports Golden Matrix Group’s broader B2B growth strategy. DualSoft represents a high-potential distribution channel, serving more than ten active operators across multiple regulated jurisdictions, with additional expansion planned.

Lobbet operates in Montenegro as part of Fortuna Entertainment Group, one of the largest betting operators in Central Europe, which recently entered the Montenegrin market through the acquisition of Lob, reflecting growing institutional confidence in the country’s regulated gaming sector.

“This agreement reflects our approach to regulated market expansion across Europe, through scalable B2B distribution. Working with DualSoft allows us to reach high-quality operators such as Lobbet while creating optionality across a broader network of regulated markets. Our focus remains on disciplined growth through partners that operate within clear regulatory frameworks,” said Damjan Stamenkovic, CEO of Expanse Studios.

The post Expanse Studios Signs Content Distribution Deal with Lobbet appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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40 Treasures

CT Interactive Enters into Partnership with Mozzartbet.rs

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CT Interactive has entered into a strategic partnership with Mozzartbet.rs. As part of this collaboration, a selection of CT Interactive’s most popular slot titles is now live and available to Serbian players.

The newly launched lineup features fan favourites such as King of Clovers, Chilli Fruits, 40 Treasures, Lucky Clover, Wild Clover and more, delivering a diverse and engaging gaming experience. In addition, CT Interactive is introducing one of its Buy Bonus titles to Serbian players — Fruits & Sweets Buy Bonus. This game offers next-generation gameplay with a three-level Buy Bonus feature, giving players enhanced strategic options and greater control over their gaming experience.

“Expanding our collaboration with Mozzartbet.rs strengthens CT Interactive’s footprint in Serbia and allows us to further showcase our portfolio in a well-established regulated market. Their strong operational expertise and local insight make them a valuable partner for delivering engaging, high-quality content to Serbian players,” said Antonio Donov, Head of Business Development EMEA and Asia at CT Interactive.

Martin Ivanov, Chief Operating Officer at CT Interactive, said: “This partnership supports our long-term strategy of growing sustainably within regulated European markets. By working closely with Mozzartbet.rs, we are reinforcing our commitment to providing compliant, reliable, and entertaining gaming experiences that resonate with local audiences.”

This partnership further strengthens the presence of both companies in Serbia and highlights their shared commitment to the sustainable growth of the regulated iGaming sector in the region.

The post CT Interactive Enters into Partnership with Mozzartbet.rs appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Kiril Kirilov takes on new leadership role at CT Interactive

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Kiril Kirilov has been named Chief Customer Success Officer (CCSO) at CT Interactive, representing a notable achievement in his career and underscoring the firm’s dedication to leadership quality.
In the last four years, Kiril has progressed through three key positions—from Account Manager to Head of Account Management—before taking on his current executive role, consistently showcasing robust leadership, business insight, and industry knowledge.
Kiril leverages a strong background in Account Management and Customer Relationship Management (CRM) to implement a customer-focused, results-oriented strategy for CT Interactive’s commercial endeavors. His selection demonstrates the company’s dedication to nurturing internal talent, maintaining leadership continuity, and enhancing collaborations via seasoned, growth-focused executive management

The post Kiril Kirilov takes on new leadership role at CT Interactive appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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