French sports betting operator France Pari has expanded into the Spanish market by acquiring local gambling operator Suertia.
On Monday, France Pari confirmed it had acquired 100% of Suertia for an undisclosed fee. Suertia, which was founded in 2011, has undergone 100% annual growth in each of the past two years and is poised to post its first profits this year, according to its new French owner.
France Pari CEO Hervé Schlosser issued a statement saying the acquisition fit with their international expansion strategy, which has seen the company establish toeholds in Belgium and Malta.
France Pari reported overall revenue of €20m in 2015, up from €18m in 2014, driven by an 80% rise in business at its SportnCo B2B division. France Pari said it believes the Suertia addition will allow it to boost B2B and B2C revenue to over €100m in 2017.
Suertia CEO Eduardo Losilla said he’d enjoyed the past five years of “strong competition with multinational operators,” but expressed optimism that “an international fast-growing company” such as France Pari would “maintain the team, the spirit and values that have conducted Suertia to its first successes.”
France Pari said the Suertia deal will provide opportunities not only as an operator but “also for providing our sportsbook and our technology to other operators.” Bringing its own technology to Suertia will come as a blow to B2B sports betting technology provider Kambi Sports Solutions, which has been supplying Suertia’s digital backbone since 2013.
In addition to sports, Suertia is licensed by Spanish regulator DGOJ to offer online poker, bingo, roulette, blackjack and slots. Suertia has marketing partnerships with the Asobal handball league as well as the Endesa basketball league and has signed ex-Barcelona striker Julio Salinas as brand ambassador.