Sports Betting
Altenar Expands Front-End and Product Offering in Italy
Altenar, the leading sportsbook and iGaming software provider, has bolstered its range of products within the Italian market, offering a variety of new tools and features to operators.
This latest expansion sees Altenar increase its product offer in one of the most sought-after European jurisdictions where the leading tech provider has been live for the past four years.
Among its most recent developments, Altenar has significantly upgraded the latest version of its front-end, offering a faster, fully-customisable solution that enables the addition of features based on individual operator needs.
Operators can now build their sportsbooks as they wish, and move widgets to match their business.
Altenar has also become one of the first sportsbooks to launch Partial Cashout on the Italian market, following the release of the feature in October 2022 after new rules were introduced by the regulator.
Finally, Altenar has gone live with its latest creation, the new Promotional Bonus tool, which has given the provider a significant competitive edge by enabling operators to freely choose matches and leagues to boost the odds.
Francesco Papallo, Regional Director at Altenar, said: “We have made some major changes to our front-end and products in Italy and we are delighted with the outcome.
“Italy is a very difficult market due to the many different regulations in place and our work here over many years has been hugely successful. We expect operators and players to enjoy our latest offering.”
Fabrizio Frenna, Managing Director at Diecimilauno, one of the first operators in Italy to launch Altenar’s Partial-Cashout, said: “The Partial Cashout is a feature that allows the player to better decide how to manage their winnings and makes them active and involved in the game decision making process. The new feature has been received by the players in a very positive way and we have noticed it gaining popularity.
“Altenar is always attentive to the needs of the market and collaborates with Diecimilauno to offer an increasingly high-performance service also based on the type of bettor we have.”
Apricot
Super Group Announces Key Terms of Strategic Transaction to Assume Full Control of its Sportsbook Technology Platform
Super Group, the parent company of Betway, a leading online sports betting and gaming business, and Spin, the multi-brand online casino, announced that it has entered into definitive agreements to assume full control of its sportsbook software technology licensed by Apricot, Super Group’s long-standing software partner.
The transaction brings Super Group closer to its goal of fully owning and controlling its sportsbook technology across its worldwide markets, giving the company the capability to apply this technology stack to any properties it may buy or build in the future.
Super Group has agreed to acquire this technology for a total consideration of c.€140 million from Apricot’s licensor, plus additional amounts payable if certain earn-out conditions are achieved. The upfront consideration consists of c.€100 million, which will be paid in the form of cancellation of an outstanding loan. Super Group will pay an additional €40 million in two equal payments over the next two years, of which up to €20 million may be paid in ordinary shares of Super Group at its sole discretion. Additional payments of up to €210 million could be made through a contingent earn-out mechanism if Super Group’s sportsbook revenue more than doubles during the earn-out period which runs through December 31, 2035. The earn-out is calculated as a percentage of monthly sportsbook net gaming revenue, ranging from a low single-digit to high single-digit percentage.
Neal Menashe, Chief Executive Officer of Super Group, said: “I’m delighted that we have now concluded terms for the sportsbook – we have been working closely to agree to an equitable deal with a favorable structure for both parties. This is an exceptional opportunity for Super Group to take full control of our sportsbook technology, which would enable maximum flexibility for organic growth as well as M&A opportunities. We’ll continue to deliver the best sports betting and gaming experience to our customers around the world as the benefits of this deal are realized.”
Sparket has selected AmTote as its wagering platform solution that will see Sparket’s parimutuel technology integrate into the AmTote totalisator and hubs.
The integration will give Sparket access to the largest online betting platform processor in North America with over $15bn in annual processed global handle. This news follows Sparket’s recent announcement of an expanded partnership with the World Jai Alai League, which will be an initial partner in bringing the integrated technology to market.
“Sparket is on a mission to enhance the parimutuel wagering experience and partnering with the biggest name in the industry is a massive step for us,” Evan Fisher, COO of Sparket, said.
“AmTote loves to see innovation and fresh approaches come to market, and we are excited at the potential of technologies like Sparket to help expand the ecosystem,” Keith Johnson, President of AmTote International, said.
Leading sportsbook goes live with full multi-product offering across key market
Altenar, a leading sportsbook and iGaming software provider, has obtained a B2B licence in Greece, expanding its outreach across another established European territory.
The company, which already has an office in Athens, has secured a licence from the Hellenic Gaming Commission, boosting Altenar’s presence in the country and adding a Greek licence to its already comprehensive portfolio.
Altenar’s expertise reaches more than 50 countries where gambling is legalised and the Greek licence, which is valid for seven years, paves the way for the company to offer its services in a new jurisdiction.
Since the introduction of the new regulatory framework, online betting in Greece has emerged as a success story, with the country undergoing robust growth, as market data shows tax revenues expected to reach €540,000,000 this year and the creation of numerous job opportunities.
Marina Zacharopoulou, Compliance Manager at Altenar, said: “The process of obtaining a licence for Altenar was rigorous, albeit familiar due to our experience with similar procedures in other jurisdictions. While we encountered typical challenges along the way, we navigated them smoothly.
“Achieving a Greek licence holds special significance for Altenar, as a considerable portion of our team is Greek, making it feel like a homecoming. Personally, I believe that Greece’s historical connection to games of chance, evident in the popularity of gambling in ancient times and the presence of deities like Tyche, adds cultural resonance to our licensure.
“Securing our presence in Greece through licensure not only demonstrates our commitment to regulatory compliance but also positions us to capitalise on the country’s expanding market.”
The post Altenar celebrates Greek licence in landmark moment for business appeared first on European Gaming Industry News.
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