RUSSIA

Bwin’s Russian Betting License is for sale

According to the Bookmaker Ratings’ sources, A&NN investment company, owned by Rambler Group owner Alexander Mamut, is selling its bookmaker license used for Digital Betting LLC (bwin bookmaker).

Bwin in Russia operates as a joint venture established in 2015 between GVC and Russian investment firm A&NN Investments. The Bwin.ru website was launched in the fall of 2017.

According to sources, Mr. Mamut has been seeking buyers for Digital Betting’s license. It is believed that the businessman has long wanted to sell the license.  Another source told Bookmaker Ratings that Russian payment service provider Qiwi may have expressed interest in buying Bwin’s license and starting an all new operation under a different brand. This means that the joint venture with GVC will likely be terminated and the Bwin brand will have to exit the Russian market after lacklustre performance.

Among the foreign companies believed to be interested in buying Digital Betting’s license is The Stars Group, sources said. Earlier this year, the Canadian gambling giant’s CEO, Rafi Ashkenazi, said during an earnings call that they planned to apply for a Russian sports betting license with their PokerStars Sports brand.

Bwin.ru failed to gain much attention among Russian bettors over the years of its existence. Back in 2016, when Digital Betting received a sports betting license, Mr. Mamut said that he would invest up to €10 million a year on marketing.

However, according to SimilarWeb data, Bwin.ru was among the least visited licensed Russian betting websites, recording just around 210,000 visits in September, or just a fraction of market leader Fonbet.ru’s 18.86 million visits.

 

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *