Betsson Eyes Colombia, LatAm Expansion with Colbet Acquisition
Online gambling group Betsson has confirmed the recent acquisition of a 70% stake in Colombian operator Colbet amid growing interest in Colombia’s regulated iGaming market and as more and more international gaming and sports betting companies are exploring expansion opportunities in the Latin American region.
Colbet, through its colbet.co website, provides both online casino-style and sports betting offering to its Colombian gambling customers.
It should also be noted that Colbet was the fourth online gambling operator to obtain a license from Colombia’s gambling regulator, Coljuegos, to operate in the country’s regulated market. That happened in 2017 when Colombia reorganized its iGaming space in a manner that enabled interested companies to obtain licenses and operate in a regulated environment.
Colbet to Migrate to Betsson Platform
Now as Colbet is majority owned by Betsson, it will migrate to the latter’s proprietary online gambling platform. The migration will enable the Colombian operator to deliver improved experience to its customers with the latest technology in the sector and a wide range of available payment options.
Betsson CEO Pontus Lindwall confirmed the acquisition, saying that after the first quarter of the year, they took the important step to strengthen their position in the LatAm region by acquiring a 70% stake in Colbet.
Mr. Lindwall went on to say that the transaction will provide them with access to Colombia’s online casino and sports betting market.
Expansion across the Region and Elsewhere
Betsson has been looking to expand across the lucrative Latin American region for some time now and the purchase of a 70% stake in Colbet is not the only deal of this kind the company has closed in recent months.
Last year, Betsson bought a 75% stake in Brazil-based gambling operator Suaposta to secure its entry and expansion in that market, as well.
Latin America has been drawing a lot of interest from the industry in recent months and many believe that it is one of the emerging regions holding the biggest growth potential for online gambling companies.
However, it should be noted that aside from Latin America, Betsson has also been looking to expand across other important markets as part of its global growth strategy. As recently noted by the company’s management, it has made its first steps in Kenya where there is ever-growing demand for online sports betting and gaming experience.
Last month, Betsson also unveiled plans to enter the nascent wagering market of the US state of Colorado. The Centennial State is the first stop in the online gambling operator’s wider strategy to expand in as many states where athletic gambling is legal as possible. To enter Colorado, Betsson has teamed up with Dostal Alley Casino in Central City.
5 FREE SPINS at Davinci’s Gold with just ONE BTC deposit
Get your 5 FREE SPINS at Davinci’s Gold with their awesome new Casino promo -…
Red Tiger Celebrates US Debut with Rush Street Launch in Pennsylvania
Online casino games maker Red Tiger has made its US debut with the recent launch…
Cordish Cos. Launches Pennsylvania’s First Mini-Casino
[ad_1] The Cordish Companies held Tuesday a ribbon-cutting ceremony to celebrate the soft-opening of the…
Eastern Band of Cherokee Indians Looking into Buying Caesars Southern Indiana
[ad_1] The Eastern Band of Cherokee Indians (EBCI) has signaled interest in purchasing Caesars Southern…
Greentube Enters Belarus’ iGaming Space with GrandCasino Launch
[ad_1] Online casino games provider Greentube, a division of NOVOMATIC Interactive, has celebrated its first…
Caesars to Reopen Rio All-Suite Hotel & Casino in Time for Christmas
[ad_1] After staying closed for almost the entire year, Rio All-Suite Hotel & Casino in…