NAIROBI, Kenya, Jul 17 – Kenya’s gaming firm SportPesa has acquired a majority shareholding stake in Italy’s RCS Gaming, a licensed gaming operator, from RCS Media Group.
The acquisition was done by SportPesa holding firm, SportPesa Global.
The firm that recently entered Tanzania says the move will see RCS Gaming which has been on the market, under the GazzaBet brand, for nearly 3 years will see it rebrand the service to Sportpesa.
RCS Media Group remains a minority shareholder of the company.
“This is yet another mile-marker in SportPesa’s development as a global brand,” comments Adam Beighton, SportPesa’s newly appointed Chairman of the Board of the Italian company.
Latest statistics showcase the love Italians have for gambling two kinds of games nearly monopolized the gamblers’ attention in 2016, casino games and sports bets.
The two games experienced a 25 percent increase in spending.
According to figures from the Online Gaming Observatory, created by the Polytechnic University of Milan, casino games, in particular, reached Sh52.2 billion with a 43 percent market share, while sports betting reached Sh41.6 billion, a 31 percent market share.
“The acquisition of RCS Gaming will enable rapid expansion in Italy and will present new opportunities to showcase to our current and future customers the SportPesa culture,” Beighton said.
Sportpesa is experiencing a tough operating environment in Kenya as the government imposed 35 percent tax for the industry.
The firm says the move will not only kill many businesses in the industry but will leave thousands of people jobless.