In a strategic move to strengthen its presence in the African market, Betfred has entered into a partnership with LottoStar, a prominent player in South Africa’s fixed-odds number betting and live games sector. This collaboration marks a significant step in Betfred’s global expansion strategy and builds upon its existing operations in South Africa, where the company currently operates a network of 53 retail shops and an online gaming platform.
Majority Shareholding Acquisition:
As part of the partnership, Betfred has acquired a majority shareholding in LottoStar. This move signifies Betfred’s commitment to deepening its roots in South Africa and tapping into the burgeoning online betting market. By taking this majority stake, Betfred aims to bring its world-class gaming products and services to a broader audience in the country.
International Expansion Ambitions:
Joanne Whittaker, Chief Executive of Betfred, expressed enthusiasm about the partnership’s potential to not only strengthen Betfred’s foothold in South Africa but also bolster its international operations. She highlighted the company’s commitment to providing top-tier games and services, emphasizing the strategic importance of South Africa in Betfred’s global expansion plans.
Betfred’s Recent Expansion Initiatives:
Betfred’s foray into South Africa follows a series of strategic moves in the past year. The company has expanded its presence in the United States and Europe, securing partnerships in Arizona and Louisiana. Additionally, Betfred has entered into collaborative agreements with sports leagues in Europe, solidifying its position as a global player in the sports betting and gaming industry.
LottoStar’s Perspective:
Tasoulla Hadjigeorgiou, Founder and Chief Executive of LottoStar, reflected on the partnership’s significance for their business. LottoStar, which was founded in 2014 as a family-run enterprise, has grown to become a leader in online betting in South Africa. Hadjigeorgiou expressed confidence that the collaboration with Betfred would enhance LottoStar’s offerings, ensuring customers receive the highest-quality services.
Betfred’s partnership with LottoStar is a strategic step toward expanding its influence in South Africa and globally. By leveraging the strengths and capabilities of both companies, this collaboration is poised to deliver exceptional gaming experiences to a broader audience. As Betfred continues its international expansion efforts, South Africa emerges as a pivotal market in its pursuit of offering world-class gaming services. This partnership not only broadens the scope of opportunities for both companies but also signifies the growing dynamism of the African gaming industry.