Ahead of its planned launch into the United States market and prominent online casino operator Betsson AB has announced the acquisition of a 35% stake in iGaming platform provider Strive Platform Limited.
The Swedish firm used an official Monday press release to detail that the transaction for $6.5 million in cash was carried out by its Betsson Perch Investments AB subsidiary and also gives it the ability to buy a further 5% stake in the innovator for a future consideration of $1 million.
Rooted relationship:
Stockholm-headquartered Betsson AB is responsible for a plethora of online casino and sportsbetting domains including the likes of Betsafe.com, CasinoEuro.com and Guts.com and inked a deal late last year to enter the embryonic iGaming market of the United States utilizing a purpose-built platform from TG Lab UAB. This Lithuanian concern subsequently established Strive Gaming Limited in order to help rollout the online gaming innovation following the development of bespoke intellectual property rights, new technologies and market-leading expertise.
Inaugural integration:
Betsson AB disclosed that its envisioned United States-facing online sportsbook will soon become the first to be incorporated onto the new platform from Strive Platform Limited, which has been christened the Player Account Management (PAM) system, so as to support its launch into what could soon become the planet’s largest iGaming market. The operator moreover stated that its recent investment will serve as a ‘complement’ to its standalone sportsbook offering and help it to further broaden its ‘customer offering.’
Landmark venture:
Pontus Lindwall serves as the Chief Executive Officer for Betsson AB and he used the press release to describe his firm’s investment into Strive Platform Limited as ‘another important milestone’ in its plan to enter the American iGaming market. He furthermore declared that the move will support the launch of the operator’s Betsafe online sportsbetting brand into the state of Colorado while helping to broaden its overall offering for punters in the United States.
Read a statement from Lindwall…
“The United States market has a limited number of PAMs and sportsbooks that are truly set up for the multi-state regulatory environment and scale. This investment brings together two high-quality independent iGaming technologies for the United States market.”
Additional alliance:
In related news and Gaming Americas reported that Betsson AB has just completed an all-share deal worth just shy of $10.6 million to give it a 50% stake in software development firm JDP Tech Limited, which owns a platform that is used to process payments from customers in Latin America. This source divulged that the operator has recently been seeking to grow its presence across South America especially in Peru, Brazil and Colombia and is currently in the process of trying to obtain an iGaming license for the Argentinian province of Buenos Aires.
