Betsson AB
Betsson Acquires 35% Stake in Strive Platform
Betsson Perch Investments AB, a subsidiary of Betsson AB (publ), has acquired a 35% stake in Strive Platform Ltd (Strive) for a total amount of USD 6.5 million.
Upon launch in the US, planned for the second half of 2021, Betsson has an option to increase its shareholding in Strive by another 5% for the consideration of USD 1 million. Betsson will also grant to the company a convertible shareholder loan facility of USD 2.5 million.
In the Q4 2020 report, Betsson announced an agreement with TG Lab, a leading international iGaming technology and development company. Through the agreement, Betsson is able to utilize the company’s new, purpose built and modern US iGaming platform, i.e. Player Account Management system (PAM) to support Betsson’s launch on the U.S. market. TG Lab has since then created Strive, a North American specific entity encompassing this new technology, intellectual property rights, and market-leading expertise, in which Betsson now invests.
“This investment is another important milestone in our US entry. The investment will support our B2C launch with the Betsafe brand in Colorado as well as broaden Betsson’s offering to the US market. The US market has a limited number of PAMs and sportsbooks that are truly set up for the multi-state regulatory environment and scale. This investment brings together two high quality independent iGaming technologies for the US market,” Pontus Lindwall, CEO of Betsson AB, said.
A subsidiary of Betsson AB has obtained its first local licenses for the newly regulated market in Peru. The licenses cover online casino and sports betting for the Betsson and Betsafe brands. Further, licenses for the Inkabet brand are expected to be obtained soon.
Betsson began its Latin American venture already in 2008 and has since then positioned itself as the most recognised sports betting brand in Peru. In 2019, the Group further strengthened its position toward the country with the launch of its Betsafe brand. Two years later Inkabet, a Peruvian-facing sports betting and online casino business, was acquired.
Besides the new licenses, the Group holds licenses in two other key markets in the region, Colombia and Argentina. In Argentina, Betsson holds licenses in Buenos Aires City, Buenos Aires province, and Córdoba.
Pontus Lindwall, President and CEO of Betsson AB, said: “We have really looked forward to Peru introducing a local regulation and are very pleased with the issuing of these licenses. With this announcement, we affirm our commitment to the local economy and the new regulatory framework in the country.”
Betsson AB has secured its biggest marketing commitment for the Argentine market, becoming the principal shirt sponsor of Boca Juniors.
Betsson had agreed to definitive terms to become Chief Sponsor of Boca, whose matchday shirt has been sponsor-less since July 2022. Betsson will pay $7.5m to place its brand on the front of Boca Junior’s matchday kit for the next 18 months.
Betsson has chosen not to disclose any “financial terms” related to the deal, but cited that its sponsorship would be based on the “values of passion for football and fair play, shared by Boca Juniors”.
On Sunday night, Betsson was revealed as the new shirt sponsor to Boca fans, during the “Para Toda La Vida” farewell testimonial match of club icon Juan Román Riquelme – played at the La Bombonera Stadium, with Lionel Messi in attendance.
In attendance at the match was Betsson Group CEO Jesper Svensson, who commented: “This is a historic match that will remain engraved in the hearts of all Boca Juniors fans and soccer lovers.”
“The sport and soccer in particular are in Betsson’s DNA; That’s why not we could be left out of such a significant and important for the club with the most titles and most popular in the Argentina.”
The sponsorship sees Betsson expand its presence in the AFA Primera Division, in which the sportsbook has formally served as sponsor of Racing Club.
Betsson has been granted operator and supplier licenses for online gaming on the locally regulated market in the province of Ontario, Canada, and a B2C offering has just been launched through Betsson’s global brand Betsafe. This step is in line with Betsson’s previously communicated market strategy for Ontario.
Betsson has launched a broad B2C offering through its global brand Betsafe, including online casino and sports betting, for the locally regulated market in Ontario. Betsafe’s products will run on the platform of Strive Gaming (40%-owned by Betsson) and will be available to customers in Ontario via Betsson’s native mobile apps, available for download via Apple Store and Google Play store, as well as via the website ot.betsafe.com. Betsson’s product offering for Ontario has been localized to deliver a North American player experience.
Betsson has also received a supplier license, which enables the group to also offer the sportsbook product on a B2B basis to other operators.
Ontario, home to almost 40 percent of Canada’s 38 million inhabitants, is economically the most important province of the country and the online gaming market in the province is widely expected to become one of the largest in North America.
Pontus Lindwall, President and CEO of Betsson AB, comments: “We are pleased to obtain the necessary licenses to operate with both a B2C and B2B offering in the locally regulated online gaming market in Ontario. We are convinced that there are great opportunities for Betsson in Ontario in both the B2C and B2B channels as we bring a highly competitive offering to the market.”
NASCAR unveils first step into the Fortnite ecosystem with custom Rocket Racing tracks inspired by its iconic events and venues
Industry Leaders Voice Strong Backing for SBC Summit Americas in Fort Lauderdale
ACR POKER GETTING PLAYERS WARMED UP FOR DUAL VENOM TOURNEYS WITH $1 MILLION GUARANTEED VENOM WARMUP
MGCB to Increase Regulatory Capacity with Additional Staff, Contribute $6M to Compulsive Gambling Prevention Fund
Novibet Enters into Strategic Partnership with OKTO
Digitain Appoints LatAm Sales Director
Yggdrasil and ReelPlay unleash hell on earth in Armageddon 10K WAYS™
Borgata Awards Over $3 Million in Jackpots on AGS’ Bonus Spin™ Xtreme Progressive In One Year
Abios, part of the Kambi Group, partners with Brazilian operator Rei do Pitaco for fantasy esoccer
Games Global launches Garden of the Gods Gold Blitz™ exclusively with Caesars Digital in three North American jurisdictions
-
gaming2 years agoODIN by 4Players: Immersive, state-of-the-art in-game audio launches into the next generation of gaming
-
EEG iGaming Directory7 years ago
iSoftBet continues to grow with new release Forest Mania
-
News6 years ago
Softbroke collaborates with Asia Live Tech for the expansion of the service line in the igaming market
-
News5 years ago
Super Bowl LIII: NFL Fans Can Bet on the #1 Sportsbook Review Site Betting-Super-Bowl.com, Providing Free Unbiased and Trusted News, Picks and Predictions
-
iGaming Industry6 years ago
Rick Meitzler appointed to the Indian Gaming Magazine Advisory Board for 2018
-
News5 years ago
REVEALED: Top eSports players set to earn $3.2 million in 2019
-
iGaming Industry7 years ago
French Senator raises Loot Boxes to France’s Gambling Regulator
-
News6 years ago
Exclusive Interview with Miklos Handa (Founder of the email marketing solutions, “MailMike.net”), speaker at Vienna International Gaming Expo 2018
