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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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SYNOT Games Partners with LiveScore Bet

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To strengthen its presence in the Balkan region, SYNOT Games has teamed with one of the fastest-growing sportsbooks brands, LiveScore Bet. This collaboration will bring a selection of SYNOT Games’ slots to the Bulgarian audience, underscoring the developer’s growth in this important market.

The newly launched suite of games includes a diverse array of immersive titles such as the electrifying Magnetic Wild, the mythical journey of Amazons’ Wonders and the underwater treasure hunt of Atlantis Gold. Each game is meticulously designed to captivate players with its distinct themes, engaging gameplay mechanics and premium visual quality.

According to Martina Krajčí, CCO of SYNOT Games, said: “Our partnership with LiveScore Bet highlights our expansion across regulated European markets. Bulgaria’s dynamic gaming sector, underpinned by strong consumer demand and robust regulatory frameworks, provides an ideal environment for our innovative content. We are committed to supporting LiveScore Bet’s™ mission to offer a premium gaming experience while championing our core principles of player safety and responsible gaming.”

Jonathan Abdilla, Finance Director, at LiveScore Bet, said: “Partnering with SYNOT Games strengthens our position as a leading gaming operator in Bulgaria. We aim to create a compelling content offer that attracts new players and supports our long-term objectives. SYNOT Games’ track record in regulated markets makes them an ideal partner for sustainable growth and consistent value for our business and customers.”

The post SYNOT Games Partners with LiveScore Bet appeared first on European Gaming Industry News.

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SAVE THE DATE! The Prestigious BEGE AWARDS 2025 are coming on November 26th!

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BALKAN GAMING AND ENTERTAINMENT EXPO (BEGE) is excited to announce the date for this year’s highly anticipated event: the BEGE AWARDS 2025 will take place on November 26th in Sofia, Bulgaria. This premier occasion celebrates excellence, innovation, and achievement within the industry, bringing together nominated companies, exhibitors, sponsors, and partners for an unforgettable evening.

The event promises a glamorous award ceremony recognizing outstanding accomplishments, complemented by a themed party designed to elevate the celebration. Attendees will have the opportunity to support meaningful causes, as participating companies will be announced for their donations during the evening.

Following the awards, guests can look forward to the legendary BEGE PARTY, a high-energy celebration featuring great music, vibrant entertainment, and a lively atmosphere that will truly bring down the roof.

The night will also include delicious food, refreshing drinks, and numerous opportunities for networking with industry leaders and peers. BEGE aims to create an engaging experience filled with surprises and memorable moments.

Nominations for the awards will open soon, and official invitations with further details will be sent out shortly.

Save the date, and stay tuned for more updates!

The post SAVE THE DATE! The Prestigious BEGE AWARDS 2025 are coming on November 26th! appeared first on European Gaming Industry News.

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Amusnet Supports BBLF Annual Meeting with Diplomatic Corps, Reinforcing Long-Term Commitment to Responsible Business in Bulgaria

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As part of its long-standing partnership with the Bulgarian Business Leaders Forum (BBLF), Amusnet supported the 9th Annual Meeting between BBLF and the Diplomatic Corps, held on June 26 in Sofia. The high-profile event brought together ambassadors from over 30 countries, senior executives representing more than 45 companies, and key government officials under the theme “Bulgaria as an Investment Destination.”

The forum served as a strategic platform for dialogue between the business community, the diplomatic sector and government institutions, focusing on strategies to attract, retain and support investors in Bulgaria. Discussions emphasised the country’s significant potential for innovation, economic development and international cooperation – particularly in the context of the country’s progress towards Eurozone and OECD membership.

Distinguished guests included Minister of Justice Georgi Georgiev, Deputy Minister of Foreign Affairs Nikolay Pavlov, Deputy Minister of Economy and Industry Doncho Barbalov and Mila Nenova, Executive Director of the Bulgarian Investment Agency. The UK served as this year’s diplomatic partner, represented by British Ambassador Nathaniel Copsey.

“Supporting the BBLF Annual Meeting with the diplomatic corps fully aligns with Amusnet’s strategic vision of fostering a transparent, stable, and forward-looking business environment in Bulgaria. Our long-term collaboration with the Bulgarian Business Leaders Forum reflects a shared commitment to high standards of corporate governance, responsible business conduct, and sustainable growth,” said Ivo Georgiev, CEO of Amusnet.

By sponsoring this key event, Amusnet reaffirms its commitment to advancing responsible business practices, fostering international collaboration and contributing to a stronger investment climate in Bulgaria. The company continues to stand behind initiatives that align with its corporate values of integrity, transparency and sustainable growth.

The post Amusnet Supports BBLF Annual Meeting with Diplomatic Corps, Reinforcing Long-Term Commitment to Responsible Business in Bulgaria appeared first on European Gaming Industry News.

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