Betfred has significantly expanded its presence within South Africa, taking a ‘major shareholding’ in LottoStar to advance the market leader’s online betting offering.
Marked a major corporate initiative, Betfred will invest in LottoStar, which is recognised as South Africa’s leading brand for fixed-odds numbers betting and Live Games.
“LottoStar has quickly developed itself as a leading brand, recognised 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 South Africa.” – Betfred’s statement read.
Last summer, Betfred secured its presence in South Africa by acquiring the Betting World (bettingworld.co.za) property from Phumelela Leisure – South Africa’s heritage racing group that had been placed under bankruptcy protection.
The deal was branded as transformative for South Africa’s sports betting marketplace, which had been strictly ring-fenced for domestic incumbents.
“We are delighted to partner with such a fast-growing company in South Africa, the business will not only complement our activity in South Africa but our international businesses in the United States and Europe,” said Betfred Chief Executive Joanne Whittaker.
“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,”
At stands, Betfred operates 53 betting shops in South Africa, alongside the online sportsbooks of Betting World and Sepels Sportsbet.
Growth in South Africa has been earmarked as a major corporate directive for Betfred to expand its commercial presence beyond UK shores.
LottoStar’s founder and CEO, Tasoulla Hadjigeorgiou added: “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.
“As an online betting leader in South Africa, we are excited to partner with one of UK’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.”