International edition
August 05, 2020

Major changes announced in the Colombian online market

Betsson expands footprint in LatAm with acquisition of 70% stake in Colbet

Betsson expands footprint in LatAm with acquisition of 70% stake in Colbet
The company’s operations will now migrate to Betsson’s platform, which will enable them to deliver a state-of-the-art offering with a wider range of payment options.
Colombia | 07/23/2020

As part of if its global expansion plan, the Sweden-based operator has announced the acquisition of a 70% stake in Colombian gambling firm Colbet, in a move similar to the company’s purchase of a75% share in Brazilian-based Suaposta in 2019.

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perating as www.colbet.co, Colbet was one of the first operators to obtain an online gambling license in Colombia. The company’s operations will now migrate to Betsson’s platform, which will enable them to deliver a state-of-the-art offering with a wider range of payment options.

Pontus Lindwall, CEO of Betsson, commented that in the first quarter of 2020, the company made a "major step in strengthening its presence in the region by purchasing a 70% stake in Colbet. This move will enable us to access the online casino and sports betting markets in Colombia."

The transaction comes after the company acquired Gaming Innovation Group’s B2C operations and its landmark deal with the Dostal Alley Casino in Colorado, under which Betsson launched in the U.S. sports betting market.

The operator has also taken its first steps in Kenya, with its Betsafe brand, in partnership with two local football teams. "During this quarter, we continued executing our strategic plan for the period," Lindwall added.

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