Balkans
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.
Wazdan, the gain-focused developer behind some of the world’s most rewarding casino game experiences, is continuing its impressive European expansion after signing a deal with mrbit.bg, a Bulgarian-based top-tier casino operator.
Through this partnership, Wazdan is bringing its acclaimed collection of player-favourite slots to mrbit.bg’s platform, such as Power of Gods™: Hades, Sizzling Eggs™ and the entire Hot Slot™ series.
mrbit.bg’s customers will also get to experience Wazdan’s signature engagement-boosting features, including the incredibly popular Hold the Jackpot™ bonus round, Cash Infinity™ and Sticky to Infinity™. These mechanics have proven to drive player retention and casino revenue across numerous regulated markets.
One of the fastest-growing casino brands in Europe, mrbit.bg boasts a constantly expanding customer base, alongside being one of the few operators in Bulgaria with official mobile apps for increased availability.
Andrzej Hyla, Chief Commercial Officer at Wazdan, said: “We are thrilled to partner with Mr. Bit, an established operator with a strong presence in several key European markets. Their player-centric approach aligns perfectly with our focus on designing immersive, feature-rich games.
“By launching our top-performing titles on mrbit.bg’s platform, we are able to extend our award-winning content to an even wider audience. This collaboration is an exciting milestone in our European growth strategy.”
Anastasia Ardelean, Head of Marketing at mrbit.bg, added: “Our team has been preparing long and hard to enter the Bulgarian market and finally we have done it! Players can enjoy amazing slots not only on the mrbit.bg website, but also in our official applications, which are available in the most popular stores: Google Play and Apple Store.
“I sincerely thank the Wazdan team for their cooperation. Together we are providing a new level of service to the Bulgarian market, and the quality will continue to increase.”
The post Wazdan further expands European footprint with mrbit.bg partnership appeared first on European Gaming Industry News.
CT Gaming is going to showcase its latest products at the Belgrade Future Gaming exhibition, which will take place on May 28–29 in Belgrade, Serbia. At its booth, the company, which celebrates its 25th anniversary this year, will present a curated selection of products and solutions tailored to the preferences of local customers.
CT Gaming will present the slot machines Next 27/27/27 and EZ Modulo 32/32/32, the multigame packages Diamond King 3 and Mermaid’s Quest, as well as the casino management system – Rhino.
The spotlight at the stand will be on Diamond King 3, the newest multigame from the Diamond King series. It includes 50 captivating games that combine classic titles with exciting new ones, as well as the legendary trio from Mega Jack – Aztec Gold, Champagne 20, and Slot-O-Pol, with enhanced graphics and captivating concepts. 20 of the games are linked to the 3-level progressive Diamond Tree Jackpot.
“The return of the legendary trio from Mega Jack reminds us of one of the company’s first major breakthroughs, which continues to reap success. By reviving the three classic Mega Jack games, we allow customers to experience our legacy in a new and modern way,” Biser Bozhanov, Director of Strategy and Business Development at CT Gaming, said.
The casino management system – Rhino has new and improved functionalities, combining everything necessary for managing gaming halls of all kinds.
“Serbia is one of the most valuable markets, and over the years, we have established long-term and strong partnerships that we look forward to further strengthening during this event,” Biser Bozhanov said.
The post CT Gaming to Showcase its Latest Products at the Belgrade Future Gaming Exhibition appeared first on European Gaming Industry News.
Expanse Studios, a leader in online gaming innovation, has secured a Bulgarian iGaming license and is now live on Inbet’s website. This expansion brings Expanse Studios’ popular game offerings including turn-based strategies gamified for iGaming, classic slots, traditional card games and the highly-acclaimed ones like Titan Roulette, Clown Fever Deluxe, Wild Icy Fruits, White Wild Whale and Joker Poker to Bulgarian players.
Diverse Gaming Portfolio Now Available to Bulgarian Players
With the Bulgarian market entry, Expanse Studios introduces a versatile gaming experience to Inbet’s platform. The offerings include a dynamic range of games tailored to diverse player preferences:
- Turn-based strategy games: Leveraging gamification, these games transform traditional strategy gameplay into engaging iGaming experiences, suitable for both novice and experienced players.
- Classic slots: Players will enjoy a variety of themed slots that combine traditional gameplay with modern graphics and sound.
- Traditional card games: A selection of popular card games offer something for every card game enthusiast.
- Titan Roulette: This standout feature, known for its immersive experience and innovative design, continues to be a favorite among roulette players.
Commitment to Quality and Compliance
Expanse Studios not only cultivates a diverse gaming library but also adheres to stringent regulatory standards to ensure a secure and fair gaming environment. The acquisition of the Bulgarian iGaming license is a testament to Expanse Studios’ commitment to compliance and excellence in the gaming industry.
The partnership between Expanse Studios and Inbet marks a significant milestone in Expanse Studios’ expansion efforts. By combining Expanse Studios’ innovative gaming solutions with Inbet’s established market presence, both entities are set to offer a superior gaming experience to players in Bulgaria and potentially beyond. As Expanse Studios continues to develop and release new games monthly, Bulgarian players can look forward to a continually evolving and enriching gaming landscape.
The post Expanse Studios Launches in Bulgaria with Inbet appeared first on European Gaming Industry News.
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