British bookmaking giant Betfred has reportedly spent an unspecified amount of cash so as to purchase a majority shareholding in South African counterpart LottoStar Proprietary Limited.
According to a Friday report from a source, the Warrington-headquartered operator is already responsible for 53 retail wagering shops in South Africa and spent some $8.7 million in June of last year so as to acquire the online sportsbetting domain at BettingWorld.co.za after previous owner Phumelela Gaming and Leisure Limited filed for bankruptcy protections.
Established in 1967 by English entrepreneur Fred Done, Betfred currently operates well over 1,500 retail betting shops spread across the United Kingdom while its Petfre (Gibraltar) Limited subordinate is reportedly responsible for the online sportsbetting domain at Betfred.com. The operator purportedly also recently launched into Spain’s growing iGaming market while entering the embryonic sports wagering scene of the United States via deals with land-based casino firms in the states of Louisiana and Arizona.
Joanne Whittaker serves as the Chief Executive Officer for Betfred and she reportedly insisted that the LottoStar Proprietary Limited arrangement is set to bolster her firm’s international expansion efforts and give it immediate control over the Mpumalanga-licensed online casino at LottoStar.co.za.
Reportedly read a statement from Whittaker…
“We are delighted to partner with such a fast-growing company in South Africa and 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 Proprietary Limited team to support the continued growth of the business providing world-class games and services to the online betting market in South Africa.”
For her part and Tasoulla Hadjigeorgiou (pictured) reportedly helped to establish Mbombela-headquartered LottoStar Proprietary Limited in 2014 and she currently serves as the operator’s Chief Executive Officer. The experienced professional purportedly declared that LottoStar.co.za was launched ‘with an innovative model to offer an online fixed-odds betting platform in South Africa’ while the deal with Betfred is destined to permit the domain to substantially expand its offerings.
A statement from Hadjigeorgiou reportedly read…
“As an online betting leader in South Africa, we are excited to partner with one of the United Kingdom’s best bookmakers. We are confident that this partnership will broaden our offering and provide our customers with the highest quality services. Our partnership also paves the way for greater collaboration and expansion and we are excited to grow our family.”