June 19, 2023 3 min read

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Altenar Strengthens Bulgarian Market Footprint with Palms Bet Partnership

The collaboration marks Altenar's entry into the Bulgarian market, solidifying its position as a leading technology provider in Europe

Altenar, a renowned provider of sportsbook and iGaming software, has taken a significant step forward in its global expansion strategy through a partnership with Palms Bet, a prominent operator group. 

Bulgarian Sports Betting Revenue Set to Soar to $928.8M by 2026

Bulgaria has long been a key target for Altenar, and the country’s sports betting sector is projected to generate over €850 million ($928.8 million) in revenue by 2026, representing a substantial increase of almost €600 million ($655.6 million) compared to six years ago.

Under the agreement, which was announced in January, Bulgarian customers of Palms Bet will have access to Altenar’s acclaimed multi-channel sportsbook technology, as well as a wide array of sports, esports, and virtual selections. Palms Bet, the first Bulgarian gambling company to be listed on the local stock exchange, currently offers a portfolio of more than 20,000 sporting events for its bettors. Additionally, the operator group boasts a partnership with La Liga, highlighting its strength in football betting across Europe.

This latest partnership between Altenar and Palms Bet follows a series of successful collaborations, as the two companies have already launched their operations together in several European and African markets. 

Altenar and Palms Bet Expanding Together in Bulgaria’s Lucrative Market

George Mavridis, Account Manager at Altenar, expressed enthusiasm for the Bulgarian market, stating, “We have always discussed how significant Bulgaria is to us and we are thrilled to continue growing in this new market with Palms Bet. We were delighted to launch in Kenya and Peru earlier this year together, and we know Bulgaria is full of potential.” 

Alexander Sjarov, Chief Sports Betting Officer at Palms Bet, echoed the sentiment, expressing confidence in the integration of Altenar’s technology into their platform. Sjarov believes that this collaboration will enhance player engagement and solidify Palms Bet’s position as a leading gaming company worldwide.

Altenar’s partnership with Palms Bet is not the only one for the Bulgarian market. In March, the company also joined forces with BetMarket, an established operator in Bulgaria. The collaboration with BetMarket strengthened both companies’ offerings and opened up growth opportunities in the Balkan market. 

Recently, Altenar also strengthened its position in the Latin American market through a deal with renowned sports betting operator GanaPlay, further amplifying its momentum since the beginning of the year. In other news, Palms Bet announced a partnership with Wazdan, an innovative provider of online casino games, to expand its offering. The collaboration introduced a portfolio of 14 top-performing Wazdan games to Palms Bet’s players, including popular titles such as Great Book of Magic Deluxe and Magic Stars 9.

Author

Silvia has dabbled in all sorts of writing – from content writing for social media to movie scripts. She has a Bachelor's in Screenwriting and experience in marketing and producing documentary films. With her background as a customer support agent within the gambling industry, she brings valuable insight to the Gambling News writers’ team.

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