Heavyweight UK bookmaker Betfred has taken a significant step forward in South Africa through a partnership with LottoStar (Pty) Ltd., the country’s largest online betting company. Betfred has now taken a majority shareholding in the business, which offers fixed-odds numbers betting and live games on its online platform.
“LottoStar has quickly developed itself as a leading brand, recognized nationally across South Africa after high-profile marketing campaigns and their continued efforts to uplift and rebuild communities through their Corporate Social Responsibility initiatives across SA,” Betfred describes the South African business in a press release.
The move is expected to further add to Betfred’s existing presence in the jurisdiction. The brand currently operates 53 shops in South Africa, and an online business following the acquisition of Betting World and Sepels Sportsbet.
“We are delighted to partner with such a fast-growing company in South Africa,” said Betfred Chief Executive Officer Joanne Whittaker. “The business will not only complement our activity in South Africa but our international businesses in the United States and Europe.”
“We look forward to working closely with the LottoStar team to support the continued growth of the business providing world-class games and services to the online betting market in South Africa,” Whittaker further commented.
“LottoStar was founded in 2014 as a family-run business with an innovative model to offer a fixed-odds betting online platform in South Africa,” commented LottoStar’s founder and Chief Executive Officer, Tasoulla Hadjigeorgiou. “As an online betting leader in South Africa, we are excited to partner with one of the UK’s best bookmakers.”
According to Hadjigeorgiou, the partnership has the potential to broaden LottoStar’s offering and provide its customers with “the highest quality services.” The deal is also expected to pave the way for greater collaboration and expansion, and the executive said LottoStar is “excited to grow” its family.
Betfred currently operates 1,470 shops in the UK and a successful online business. In addition to South Africa, the Warrington-headquartered bookmaker has also expanded into other jurisdictions such as the US and Spain.
The company had already announced it would be seeking to increase its footprint in South Africa following the Betting World and Sepels Sportsbet acquisition. Upon finalization of that deal, Betfred’s Chief Commercial Officer (CCO), Phil Siers, hinted at future plans, remarking the company “intends to make a major investment in Africa over the coming years.”
Original article: https://www.yogonet.com/international/news/2022/06/24/63170-betfred-takes-step-forward-in-south-africa-through-majority-stake-in-online-betting-firm-lottostar
