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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.

Balkans

Amusnet Took Part in the Official Celebration of the 25th Anniversary of BBLF

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Amusnet took part in the official celebration of the 25th anniversary of the Bulgarian Business Leaders Forum (BBLF) as a Silver sponsor. Held at the InterContinental Sofia on November 21, 2023, the event brought together distinguished guests, including key government officials, along with representatives from business, civil society and the diplomatic corps. The Bulgarian Business Leaders Forum is the country’s largest and utmost responsible business community, consisting of over 130 leading companies committed to business ethics, corporate social responsibility and sustainability.

Ivo Georgiev, CEO of Amusnet, attended the event, underscoring once again the company’s commitments and contributing to the collective efforts of BBLF in advancing responsible corporate behaviour.

“Thanks to all of you, the BBLF is a respected business association that has encouraged and promoted business ethics, responsible and sustainable business practices for 25 years now. We are very satisfied that together we are reaffirming the leading role of the private sector in Bulgaria’s economic development and social environment,” BBLF Chair Levon Hampartzoumyan said at the opening.

By its active participation in this significant event, Amusnet demonstrated its alignment with the BBLF’s mission to foster business ethics, corporate social responsibility, and sustainability in Bulgaria’s dynamic business landscape. The company’s involvement also signifies a shared vision for a prosperous and socially responsible business environment, echoing the sentiments expressed by BBLF Chair Levon Hampartzoumyan in acknowledging the collective impact of responsible and sustainable business practices on Bulgaria’s economic success and the cultivation of future business leaders.

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Balkans

EGT Digital’s Jackpot Top Seller Clover Chance is Live on Everbet

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One more Bulgarian operator decided to enrich its portfolio with EGT Digital’s slot games. The visitors to Everbet.bg are able to choose among 57 of the most attractive titles of the Clover Chance jackpot.

“Our customers like EGT Digital’s gaming content as it has something for everyone. It offers both classic slots and titles with more contemporary concepts and appealing features that hold players’ attention for a long time and make the gaming experience more memorable. It’s no surprise that currently these are some of the most popular games on our site,” Reinis Kolnejs, CPO of Everbet, said.

“We are very happy that Everbet are already among our partners and I am confident that very soon more of our games will be at the disposal of their clients,” Tsvetomira Drumeva, Head of Sales at EGT Digital, said.

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Balkans

CT Interactive’s content goes live with Everbet

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CT Interactive’s content goes live with Everbet
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In a strategic move to further solidify its presence in the Bulgarian gaming landscape, the leading online game supplier CT Interactive has integrated its premium content with Everbet, one of the newest licensed online betting operators in the country.

Milena Tsankarska, Head of Business Development EMEA at CT Interactive, shared her insights: “Our company is thrilled to contribute to Everbet’s journey through its gaming mix of exciting and diverse portfolio, which promises a gaming adventure like no other.”

Kiril Kirilov, CRM at CT Interactive, emphasized the significance of this collaboration: “Integrating with Everbet is not just about expanding our reach; it’s about crafting an immersive gaming environment. Players can anticipate an array of engaging titles that showcase our dedication to innovation and quality.”

Through this partnership, Everbet users will access a rich selection of CT Interactive’s renowned slot titles, including 40 Treasures, Lucky Clover, HOT 7’s X 2, Chilli Fruits, Duck of Luck, and more.

Reinis Kolnejs, CPO at Everbet, said: “The collaboration with CT Interactive represents a significant milestone for Everbet. Their dedication to pushing the gaming boundaries resonates seamlessly with our vision. We’re especially eager about introducing their games and the Hot Luck Jackpot, which will add an extra layer of excitement for our valued customers.”

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