Balkan's
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.
Balkan's
BEGE celebrates 15 years as Eastern Europe’s premier gaming expo
The most significant event for the gaming industry in Eastern Europe – the Balkan Entertainment & Gaming Expo (BEGE) – will bring together leading companies, innovators, and industry representatives on November 27 and 28 for its 15th-anniversary edition. In celebration of this milestone, the organizers have prepared numerous surprises and special awards.
Once again, BEGE will offer a rich program, uniting industry leaders, investors, and successful entrepreneurs to share ideas, technologies, and inspiration. Visitors will have a unique opportunity to explore the latest gaming technologies, try out innovative solutions, and enjoy impressive demonstrations.
Traditionally, the first and second days of the event feature the EEGS conference, where internationally recognized speakers will present analyses and discussions critical to the development of the gaming industry. Special panels will provide a platform for leading gaming experts to discuss the future of the industry, emerging trends, and initiatives promoting responsible gaming practices.
For the first time, BEGE will welcome startups, offering them the opportunity to participate in Gaming StartUp Challenge 6.0. This challenge provides a unique opportunity to meet with key industry figures. The most promising startups will be recognized and granted invaluable access to the experience and insights of industry leaders.
As always, the exhibition begins with the BEGE Awards ceremony, a symbol of recognition for innovation, outstanding achievements, and success across various sectors of the gaming industry, with awards such as “Online Provider of the Year” and “Online Game of the Year.” The awards will be presented on November 26 at an elegant dinner at Black&White club in Sofia’s Grand Hotel Millennium.
A key highlight of the program is the Proximity Zone, providing companies with additional visibility through live-streamed interviews and product presentations with leading global brands and experts.
BEGE is a must-attend event for anyone with an interest in the gaming industry. This year, more than 80 exhibitors and over 6,000 visitors from 70 countries are expected, making it a place where the passion for gaming and innovation meets business opportunities.
The post BEGE celebrates 15 years as Eastern Europe’s premier gaming expo appeared first on European Gaming Industry News.
Balkan's
CT Interactive to Present Latest Content at BEGE 2024
CT Interactive will showcase at BEGE, which will take place on November 27-28, 2024, at the Inter Expo Centre in Sofia, Bulgaria. The company will present at stand 3.15А its top-notch slot catalogue featuring cutting-edge mechanics and engaging gameplay designed to appeal to various players.
Silvia Hristova, CT Interactive’s CPSO, said: “We are excited to participate in BEGE, a central event for the gaming industry in Europe. This year, CT Interactive is showcasing a selection of games tailored to meet the evolving needs of our partners and engage players with innovative and localised content. BEGE offers a unique opportunity to connect with industry leaders, strengthen our relationships, and explore new growth opportunities in this dynamic region. We look forward to sharing our latest advancements and demonstrating our commitment to creating high-quality gaming experiences.”
The CT Interactive team at the expo will include Lachezar Petrov (CEO), Monika Zlateva (CCO), Silvia Hristova (CPSO), Antonio Donov (HBD EMEA & Asia), Kiril Kirilov (AM).
BEGE brings together manufacturers, online operators, affiliates, payment service providers and media professionals. This year’s exhibition will feature numerous companies from the gaming industry, showcasing their latest products, services and groundbreaking solutions.
The post CT Interactive to Present Latest Content at BEGE 2024 appeared first on European Gaming Industry News.
Balkan's
EEGS 2024 Welcomes Oddin.gg as Silver Sponsor!
We are thrilled to announce that Oddin.gg is joining us as a Silver Sponsor for the Eastern European Gaming Summit (EEGS) 2024 for the third consecutive year! 🚀 As a leading B2B provider in the esports betting space, Oddin.gg is renowned for empowering its partners with a comprehensive end-to-end esports betting ecosystem. Their continued support significantly enriches the experience for all attendees, ensuring a dynamic and engaging EEGS 2024.
This enduring partnership reflects our commitment to fostering growth and innovation within the rapidly evolving gaming industry. With Oddin.gg’s expertise and dedication, EEGS 2024 promises to be a hub of insightful discussions, networking opportunities, and cutting-edge developments that drive the industry forward.
The post EEGS 2024 Welcomes Oddin.gg as Silver Sponsor! appeared first on European Gaming Industry News.
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