Amusnet was officially inaugurated as a distinguished member of the Bulgarian Business Leaders Forum at an exclusive event, alongside 13 leading companies. During the official ceremony, the Chairman of BBLF, Levon Hampartzumyan, presented Amusnet with a membership certificate and the Business Ethics Standard.

By joining the Forum, Amusnet becomes part of a community that brings together Bulgarian and international companies from various sectors of the economy to actively promote practices of social responsibility and sustainable business development.

“We are honored to be part of the Business Leaders Forum family because we believe that by sharing values that stimulate responsible and ethical business practices, we actively contribute to Bulgaria’s technological landscape, ultimately enhancing the country’s appeal for investment, employment, and overall quality of life,” Liliya Chatalbasheva, Chief Marketing and Communications Officer at Amusnet, said.

Amusnet is a rapidly growing technological company that creates online casino software and gaming solutions, established as a preferred partner for leading operators across the globe. In terms of social responsibility, the company develops long-term projects in the field of education, with investments focused on supporting schools in Northwestern Bulgaria. Amusnet also runs its own IT academy, training software specialists, and, since last year, has launched an educational project aimed at supporting the integration of individuals with special needs.

The Bulgarian Business Leaders Forum brings together organisations with shared values that develop their businesses in a responsible, transparent, and ethical manner. Today, BFBL has nearly 170 member companies from various industries. The organisation is part of the global network of the International Business Leaders Forum.

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.

Spinomenal, the leading iGaming content provider, has augmented its presence in the Bulgarian iGaming market following a new content partnership with WINBET.

Following the agreement, the leading player in the Bulgarian market will gain seamless access to a wide range of Spinomenal’s top performing titles. Some of the games now available on WINBET’s platform are Poseidon’s Rising, Book of Rebirth and Wolf Fang – to name just a few.

The games are being integrated into WINBET via EGT Digital’s platform. This latest content partnership builds on Spinomenal’s relentless commitment to enhancing its regulated global presence across the iGaming space.

Lior Shvartz, CEO for Spinomenal commented: “Bulgaria has been a major growth market for us and we’re really pleased to enhance our presence here. Our games are proving very popular and by partnering with WINBET we can increase their exposure further.”

Victor Perenovski, WINBET Operations Director, commented: “As the leading Bulgarian online entertainment provider, we strive to offer our clients an ever-expanding portfolio of top quality content and bespoke customer service. By integrating Spinomenal titles we further extend our offer as part of our growth strategy for the Bulgarian market.”