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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.

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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.

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“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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Amusnet Expands Balkan Presence Through Strategic Partnership with mbet.ba

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Amusnet continues its strategic growth by partnering with mbet.ba, an online gaming operator in Bosnia’s Republic of Srpska. This collaboration highlights the company’s commitment to strengthening its presence in the Balkan region, leveraging its top-notch portfolio to enhance local players’ gaming experience.

“We are excited to work with Mbet, as this partnership opens up opportunities to reach a more diverse player base. By combining our premium game offerings with their market reach, we are confident that we can deliver exceptional, tailored gaming experiences that will captivate players and drive growth for both companies,” said Dimitar Nacev, Sales Specialist at Amusnet for Bosnia and Herzegovina.

“We are very pleased to be able to offer our players games from a world-renowned provider. Amusnet is a leader in the gambling industry, and cooperating with this company is a great privilege,” said Dragan Djekic, Head of Gaming Sector at Mbet.

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The post Amusnet Expands Balkan Presence Through Strategic Partnership with mbet.ba appeared first on European Gaming Industry News.

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Evoplay joins forces with Slotino to expand Bulgarian reach

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Evoplay, the award-winning game development studio, has further strengthened its presence in Bulgaria through a new partnership with prominent local operator Slotino.

As part of the collaboration, 75 of Evoplay’s top-performing games, including Camino de Chili Bonus Buy, Mega Greatest Catch, and Hot Volcano, are now available to Slotino’s customers in the Balkan country.

The agreement marks a significant milestone for Evoplay in expanding its reach in the Bulgarian market, offering Slotino players a diverse selection of high-quality titles designed to enhance user engagement and retention.

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Slotino, a trusted name in the Bulgarian market, reinforces its position as a leading operator in the region by offering the curated collection of Evoplay’s premium and proven games.

Ihor Zarechnyi, CBDO at Evoplay, said: “This partnership with Slotino represents an important step in our growth strategy for Bulgaria. By bringing our portfolio of innovative and engaging games to a new audience, we’re confident that we can drive strong performance and engagement in this key market.”

Vasil Stumbov, Director at Slotino, added: “We’re excited to bring Evoplay’s diverse and high-performing game selection to our players. This partnership allows us to enhance our offerings with fresh, engaging content that will resonate strongly with our audience. We look forward to the opportunities this collaboration will bring.”

The post Evoplay joins forces with Slotino to expand Bulgarian reach appeared first on European Gaming Industry News.

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Spinomenal strikes partnership with Admiral Croatia

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Spinomenal, the leading iGaming content provider, has struck a new content partnership with Admiral Croatia.

Admiral Croatia will now be able to access Spinomenal’s extensive range of casino games. These include popular titles such as Baba Yaga Tales, Egyptian Rebirth II and Book of Diamonds. The games will be accessible and integrated via the Bragg Gaming Group platform.

Lior Shvartz, CEO for Spinomenal commented: “We are very happy to announce this latest deal with Admiral Croatia, a pioneering force in the country’s online casino market. Croatia is an important market for us and we expect our games to resonate with casino players here.”

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