Sportingbet have been at the centre of merger speculation this weekend and the rumours as to whether they’ll merge with Unibet are likely to rumble on for a further few months. It’s maybe slightly surprising that after all the speculation over the weekend, Sportingbet have already announced another partnership.
Russia, which has a sports betting industry with estimated turnover of $1.8bn, is the next location in which Sportingbet have decided to expand. They are teaming up with the country’s second largest licensed bookmaker, the First International Bookmakers Company (FIBC), who operates under the well-known Liga Stavok brand.
Under the terms of the five-year-deal, they’ll partner exclusively to establish a Russian online sports betting offering under the “Liga Stavok powered by Sportingbet” banner. Sportingbet will be the sole provider of online services to the unique venture.
Andrew McIver, Sportingbet Group Chief Executive, said: “I am delighted that Liga Stavok has chosen to partner with Sportingbet. I am confident that the combination of Sportingbet’s world class online sports betting product and expertise with Liga Stavok’s strong brand and exclusive betting partnerships will enable the joint venture to build a leading position in this exciting, fast growing market.
“This partnership is a perfect fit with Sportingbet’s strategy to build geographical diversity through new markets, working with the highest quality partners where appropriate.”
FIBC currently operates 256 Liga Stavok licensed betting outlets and is expanding at a rate of around 25 new outlets per month.