Betsson Group acquires 75% of Brazilian operator Suaposta
Betsson Group have acquired 75% of Brazilian operator Suaposta, with the business’ founders Andre Gelfi and Fernando Correa retaining a 25% stake. Gelfi and Correo will remain as CEO and CFO respectively, continuing to run the operation as part of the Betsson Group.
Suaposta provides Betsson Group with immediate access to the Brazilian betting market. It is the first and only fully licenced Brazilian betting brand, operating in partnership with the Jockey Club racetrack in Rio Grande do Sul. The brand relaunched in 2018 after a successful MBO from Codere.
The Brazilian operator also offers significant existing assets,including established Google and Facebook marketing channels and local payment methods – which were seen as highly valuable for Betsson Group considering the expected regulation of sports betting in the region.
RaceBets – Betsson Group Affiliates’ multi-country online bookmaker – shares a number of key characteristics with Suaposta, offering strong synergies for post-acquisition integration.
Betsson Group is a public traded Swedish global iGaming and sports betting operator with licenses in 12 jurisdictions, headquartered in Stockholm.
Partis Solutions served as exclusive advisor and broker to Suaposta and led the company in all aspects of the transaction. With offices in New York, London, Malta and Madrid, Partis is a consulting and M&A advisory practice focused on the global iGaming market and is part of the Conexus Group of companies.
Andre Gelfi, CEO of Suaposta said:“We are delighted to announce this agreement with Betsson Group, who are perfectly positioned to enable our business to realise its full potential in the newly regulating Brazilian market. We are hugely grateful for the role Partis played in bringing this transaction together.”
Rob Dowling, Co-Founder of Partis said:“ This deal provides an excellent outcome for both parties. Suaposta’s founders are excited to maintain an active role and to realise their significant growth plans, and Betsson Group have gained unrivalled access into the emerging LATAM online gaming market.”