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
Expanse Studios Launches in Bulgaria with Inbet
Expanse Studios, a leader in online gaming innovation, has secured a Bulgarian iGaming license and is now live on Inbet’s website. This expansion brings Expanse Studios’ popular game offerings including turn-based strategies gamified for iGaming, classic slots, traditional card games and the highly-acclaimed ones like Titan Roulette, Clown Fever Deluxe, Wild Icy Fruits, White Wild Whale and Joker Poker to Bulgarian players.
Diverse Gaming Portfolio Now Available to Bulgarian Players
With the Bulgarian market entry, Expanse Studios introduces a versatile gaming experience to Inbet’s platform. The offerings include a dynamic range of games tailored to diverse player preferences:
- Turn-based strategy games: Leveraging gamification, these games transform traditional strategy gameplay into engaging iGaming experiences, suitable for both novice and experienced players.
- Classic slots: Players will enjoy a variety of themed slots that combine traditional gameplay with modern graphics and sound.
- Traditional card games: A selection of popular card games offer something for every card game enthusiast.
- Titan Roulette: This standout feature, known for its immersive experience and innovative design, continues to be a favorite among roulette players.
Commitment to Quality and Compliance
Expanse Studios not only cultivates a diverse gaming library but also adheres to stringent regulatory standards to ensure a secure and fair gaming environment. The acquisition of the Bulgarian iGaming license is a testament to Expanse Studios’ commitment to compliance and excellence in the gaming industry.
The partnership between Expanse Studios and Inbet marks a significant milestone in Expanse Studios’ expansion efforts. By combining Expanse Studios’ innovative gaming solutions with Inbet’s established market presence, both entities are set to offer a superior gaming experience to players in Bulgaria and potentially beyond. As Expanse Studios continues to develop and release new games monthly, Bulgarian players can look forward to a continually evolving and enriching gaming landscape.
Balkans
Wazdan marks Croatian market entry with PSK partnership
Wazdan, the gain-focused developer behind some of the world’s most rewarding casino game experiences, has entered the Croatian market after signing with PSK, a leading operator in the country.
The provider is taking some of its most acclaimed slots live with the operator, including player-favourites such as 9 Coins™ 1000 Edition, Hot Slot™: Magic Bombs, Burning Stars 3™, which will become available to Croatian players for the very first time.
A prominent operator in the country since 1998, PSK is part of the internationally-known Fortuna Entertainment Group. With over 900 employees and a constantly growing player base, the brand is set to enrich its content offering with Wazdan’s titles.
Croatia marks the newest market entry for Wazdan, which further boosts its impressive European performance as a result of this deal. More partnerships in the country are expected to be announced in due course.
Radka Bacheva, Sales and Business Development at Wazdan: “Croatia is a country that boasts a fantastic amount of potential, so we’re delighted to be entering the market for the very first time with PSK, a top-tier operator.
“We’re bringing a range of our top-performing titles to its platform, and are excited to see the reception from Croatian players towards our mechanics. We’re confident this will be the start of a successful collaboration.”
Martina Pehar, Group Product Specialist at PSK said: “It’s an honour to welcome Wazdan to the Croatian market for the first time as part of this deal – we’ve seen the reception to their dynamic slots across the world, and we’re thrilled to be bringing them to our players.
“Wazdan bring a fantastic collection of their titles to our platform, including standouts such as Power of Gods: Hades and Clover Lady, that we’re sure our customers are going to embrace. We look forward to seeing the results!”
Balkans
Anakatech Incorporates GameArt’s High-Quality Slot Titles into Cutting-Edge Platform
Anakatech, a developer of platforms and comprehensive solutions for the iGaming sector, has entered into a partnership with GameArt, a developer of high-quality HTML5 slot games for both online and land-based casino operators. As per the deal, GameArt’s games are now integrated on Anakatech’s gaming platform.
Anakatech offers complete casino solutions with a portfolio of innovative online and mobile games. Through this collaboration, Anakatech enhances its platform by integrating GameArt’s exceptional games, further enriching the gaming experience for its partners and players alike.
Yauheni Charniuk, Account Manager at GameArt, said: “We are delighted to partner with Anakatech as this collaboration enables us to bring our high-quality online slot games to Anakatech’s partners and clients. We look forward to many years of working together!”
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