Betfred has significantly expanded its presence in South Africa, taking a “majority stake” in LottoStar to broaden the market leader’s online betting offering.
Marking an important corporate initiative, Betfred will invest in LottoStar, which is recognized as South Africa’s leading brand for landline betting and live games.
In a statement Betfred quoted: “LottoStar has rapidly developed into a leading brand, nationally recognized across South Africa following high profile marketing campaigns and its continued efforts to uplift and rebuild communities through its Corporate Social Responsibility initiatives. across South Africa”.
Last year, Betfred secured its presence in the region by acquiring the Betting World property from Phumelela Leisure – the South African horse racing group that had been placed under bankruptcy protection.
The deal was marked as transformative for the South African sports betting market, which had been strictly limited to domestic competitors.
“We are delighted to partner with such a fast growing company in South Africa, the deal will not only complement our activity in South Africa but also our international business in the US and Europe,” said Joanne Whittaker, Executive Director from Betfred.
“We look forward to working with the LottoStar team to support the continued growth of the business providing world-class games and services to the South African online betting market.”
In the stands, Betfred operates 53 betting shops in South Africa, alongside the online bookmakers Betting World and Sepels Sportsbet.
The growth in South Africa was intended as an important corporate directive for Betfred to expand its commercial presence beyond the UK shores.
LottoStar Founder and CEO Tasoulla Hadjigeorgiou added: “LottoStar was founded in 2014 as a family business with an innovative model to offer an online fixed-money betting platform in South Africa.”
“As the leader in online betting in South Africa, we are excited to partner with one of the best bookmakers in the UK.”
“We are confident that this partnership will expand our offering and provide our customers with the highest quality services. Our partnership also paves the way for greater collaboration and expansion.”
