SunBet Extends Online Betting Platform Contract with Bede Gaming Amid Record-Breaking Performance

Bede Gaming has secured a further contract extension with South African online sports betting brand SunBet, the digital arm of Sun International and one of the fastest growing operators in the SA online market.

The new contract renewal comes as SunBet reports record-breaking digital growth in its H1-24 performance report, including a 72% year-over-year (YoY) growth in revenue and 72% increase in active players, driving an 89% improvement in EBITDA.

As a leading supplier of software to the igaming industry, Bede has supported the ambitions of this customer with tailored features and services to achieve SunBet’s business objectives while delivering the highest cost efficiencies.

Since the launch of the SunBet Slots offering in 2022, Bede has provided various additional optimisations, including integrating 7 new game providers to SunBet.co.za, releasing enhancements to the existing Kambi Sportsbook integration functionality, and delivering bespoke training on product features such as Bede’s powerful rules engine and bonusing suite.

This year alone, Bede has partnered with SunBet’s operations to –

• Optimise environmental infrastructure, aiming to deliver run cost efficiencies that will reduce the total cost of ownership by 30% by the end of the year.
• Develop a bespoke aggregator tool to achieve cost-effective game content customisation via a streamlined South Africa-specific solution.
• Enter into the new regulated markets of Namibia and Botswana (due to launch in 2024).

Colin Cole-Johnson, Bede Chief Executive Officer.“It’s been fantastic to see SunBet grow throughout the course of our partnership, and I’m delighted by their commitment to Bede at this crucial point in their journey. Securing another extension on this contract is testament to our dedication to our customers.”

SunBet’s partnership with Bede dates back to 2017, when digital offerings to this market were restricted to sports betting and live casino. With the change to slot content regulation in the South African market in August 2022, SunBet has expanded its online offering through Bede’s platform environment and has seen substantial growth in revenue and performance as a result.

Simon Gregory, SunBet Chief Executive Officer Bede has been a strong long-term partner for us, supporting and delivering on SunBet’s growth ambitions with quality and expertise. I’m very much looking forward to these next steps, especially now as we approach new African expansions.”

EveryMatrix has sealed its largest turnkey platform partnership in Africa to date and will migrate MBet from its existing software to EveryMatrix technology.

The turnkey sportsbook agreement will see EveryMatrix power MBet with its award-winning technology in Tanzania and the Democratic Republic of Congo (DRC).

MBet’s sports betting offering will be transformed via the high-performing, ‘always-on’ OddsMatrix digital sportsbook platform that includes access to a content catalogue of 170,000+ monthly live sportsbook events, empowering Odds Management control tools and comprehensive 11-sport pre-live and live Bet Builder.

The East African operator will also gain access to a suite of player-friendly localised products including in-house lightweight front end, USSD betting, SMS functionality, Do It Yourself manual event creation tools and a dynamic betslip engine supporting 50+ accumulator selections.

This enhanced sportsbook platform package will be further supplemented by the integration of additional EveryMatrix core turnkey products including casino productivity platform CasinoEngine, cross-product reward system BonusEngine and player management platform GamMatrix.

Migrating from 11-year-old proprietary technology to an EveryMatrix tech stack, MBet becomes the latest ambitious operator to join the rapidly expanding EveryMatrix platform network. Fresh from the recent acquisitions of FSB Technology and Fantasma Games, the industry’s fastest growing iGaming technology supplier now has more than 1,100+ staff across 15 global offices.

Established in 2013, MBet has developed into one of the leading sportsbook brands in the competitive East African region following the creation of a customer-centric proposition aided by a portfolio of local sports partnerships.

Ebbe Groes, CEO and co-founder, EveryMatrix, said: “This tier-1 African turnkey partnership sends a strong signal that EveryMatrix is rapidly becoming the ‘go-to’ platform provider for ambitious operators in the exciting Africa region.

“Africa presents a unique set of scalability challenges for platform providers and, with millions of bets processed daily across our OddsMatrix sportsbook platform, this is a region tailormade for the transformative capabilities of the EveryMatrix technology.

“I’m particularly pleased to see this deal follow our acquisition of FSB Technology. FSB has developed a strong client base across the African continent and the experience and product readiness from FSB was instrumental in EveryMatrix winning this landmark deal.

“We are pleased to welcome MBet to the EveryMatrix platform and look forward to propelling their offering into a market-leading proposition in Tanzania, DRC and beyond.”

Javier Diaz, CEO, MBet, said: “We are immensely proud of everything MBet has achieved in the last decade. Securing leading positions in Tanzania and the DRC has demonstrated the growth journey we’ve been on.

“What has become clear in the last 18 months is that to take us to the next level in our operations we need to be aligned with a leading third-party technology provider.

“After a thorough search we are confident that we have selected the right partner in EveryMatrix. The hyper growth they have achieved globally in the last several years has been inspiring and their end-to-end turnkey offering provides us with the content, tools, features and localised capabilities to differentiate our daily offering and scale MBet upwards onto a new level.”

Tekkorp Capital, the leading global betting and gaming investment and advisory boutique, is delighted to announce Conor O’Donovan is joining to lead its African business, in response to the rapidly growing opportunities across the continent. With a decade of expertise in the African market as a prominent equity investor and several years of hands-on experience as CEO of multi-territory African betting brands, Conor’s leadership will be crucial as Tekkorp and its partners navigate and invest in this rapidly developing region.

Conor’s strategic focus will be on identifying exciting investment opportunities, while assembling an advisory and management team of leading African industry luminaries to steer investment and operational oversight. Investee companies will benefit from Tekkorp’s and its capital partners’ investment along with the decades of experience built up with some of the most successful businesses in the sector. For operators requiring more than access to capital, Tekkorp will provide comprehensive operational, technical, and strategic support, including product solutions, media partnerships, payments, and legal expertise, ensuring the full resources needed to succeed. 

Conor O’Donovan, Tekkorp Capital Africa Partner, said: “Africa offers some of the most exciting growth opportunities in global gaming, with a range of attractive targets across diverse markets. At the same time, the landscape is fragmented and has its unique set of nuances and challenges. Tekkorp, alongside our strategic partners, is well-equipped to navigate these complexities and bring out the potential in strong, locally led businesses. Our goal is to turn these promising companies into regional leaders, building a diversified portfolio of high-performing, compliant brands with strong governance, unblocking the barriers to major operators investing with confidence.”

Matt Davey, Tekkorp Capital’s Founder and Chairman, commented: “It’s well-known that Africa is a high-growth market, and over the next decade we expect to see strong growth at a significant pace. This will encourage more operators to enter the space, and that’s why we believe the time is right to get ahead of the coalescing trends and create a balanced portfolio of premium African assets, underpinned by our local expertise, to best capitalise on this profitable opportunity.”

Robin Chhabra, Tekkorp Capital’s CEO, added: “Of course, we’ve long been active investors in the sports betting and gaming industry, always looking for great businesses with strong opportunities in market segments or territories we like. So, this focus on Africa is a logical extension of that philosophy. We’ve assembled a crack team, with Conor’s nous and know-how at the helm, as we explore another fragmented market rich with possibilities.”