SOFTSWISS Purchases a Majority Stake In Turfsport To Enter African Market
SOFTSWISS, a flagship crypto gambling provider, has revealed that it has officially purchased most of the stake in Turfsport, a flagship South African supplier of multi-channel betting software for lotto, horse racing and sports. In addition, this step is in line with SOFTSWISS’ aim to extend its global presence.
Purchase:
However, SOFTSWISS didn’t reveal any financial data about the acquisition, including the size of the stake it bought. But, it stated that this purchase agreement boosts its product portfolio and enables it to serve extra regulated markets.
Relatedly, for more than 35 years, Turfsport has provided entirely managed end-to-end solutions for retail, mobile and online operators. The overall number of wagers placed by every customer of Turfsport on many different platforms surpasses 1.5 billion per year. At the moment, over 40 operators in the regulated market of South Africa use the supplier’s aforementioned software for sports wagering, lotto and horse racing. As all this only shows the excellent visibility and reputation of Turfsport in the African regulated market, with this acquisition deal, SOFTSWISS will also solidify its presence in the local market.
Commenting on the purchase, the co-CEO of SOFTSWISS, Andrey Starovoitov, commented that the purchase offers an efficient and fast way for the company to expand into the fresh market. In this regard, he added: “I am pleased to announce the completion of this long-awaited deal. With this agreement, SOFTSWISS takes a significant step forward in its extensive expansion into South Africa and the African continent. I believe this region is becoming the next focal point globally, following Latin America. What’s even more valuable for us is that we not only gain market presence but also access technologies developed over the last 35 years by world-class specialists. We look forward to enhancing our product portfolio and continuing our commitment to providing high-end solutions to our partners.”
Turfsport aims for international growth with SOFTSWISS:
Turfsport CEO Christian Neuberger also expressed his approval for the purchase. Working with SOFTSWISS will offer opportunities for the firm to have more chances on a global level, according to him.
In this regard, he said according to the official press release: “To provide more innovation and react faster to the growing demands of the iGaming industry, Turfsport was looking for an international partner that would complement our strong brand in South Africa, and we are absolutely delighted to have found the ideal partner in SOFTSWISS and its dynamic and fast-growing team. Both companies look forward to delivering innovative product enhancements and services, giving our customers the competitive edge to grow and succeed in an increasingly dynamic market. We are all truly excited about the winning combination of Turfsport’s local and SOFTSWISS’ international expertise and the prospects for this duo in the South African and African markets.”
SOFTSWISS will provide more details on the purchase and the South African market at International Casino Exhibition (ICE) 2024, which will take place from February 6th to 8th at ExCeL London. On that note, the provider will be located at Stand N8-231.
