SBTech is mulling another business consolidating move, which will put the company on a fresh market – France. SBTech will say “Oui” and that is a fact, the company confirmed, with the news breaking on all official channels.
SBTech Says Bonjour La France
Reports have surfaced that one of the largest technological giants in the sports betting and gambling sectors, SBTech, has signed a new string of partnerships in France already, effectively marking its first foray in the country. Clearly, expansion has been on the mind of the tech giant, and after a successful collaboration in the United States, the focus is distinctly European.
— SBTech (@SBTech_) November 16, 2018
The company revealed on November 16, 2018 that it had “a strong pipeline of well-known operators”, indicating that it will definitely not struggle to find buyers at all. Though it hasn’t been confirmed, SBTech already has signed contracts with certain operators in anticipation of an official announcement which will put the company on the map.
Similarly, SBTech will focus on adding value to what it has to offer to existing customers, indicating that they can find a strong demand for their products in France. SBTech feels strongly about the French market, as demand for adequate iGaming and betting facilities has been growing to the point that the company is now officially preparing for expansion in Q1, 2019.
If SBTech carries on with its intentions, France will effectively become the 21 regulated market for the giant. This coincides perfectly with the strategy of the company outlined in a statement by the CEO, Richard Carter.
@SBTech_ signs five-year #sportsbook extension with #betting powerhouse Bethard!
Scandinavian sports betting group continues successful partnership to drive further international expansion. Find out more: https://t.co/KeseeBnOMP pic.twitter.com/taiceBauNB
— SBTech (@SBTech_) November 15, 2018
Mr. Carter insisted that the company will focus on breaking into every major market that has been legally permitted to introduce gaming & betting activities. However, he didn’t rule out the idea of going ahead of competitors by adding newly-regulated territories as well.
Our strategy is to enter every leading regulated market and 2018 has seen our presence grow significantly across key regulated and newly-regulated territories. – SBTech CEO Richard Carter
According to Mr. Carter, France is one of the strongest markets of Europe when it comes to sports betting, although the country has had some trouble establishing its casinos and poker rooms on the map.
However, French punters have amassed millions in total handle during the 2018 World Cup, which indicates the country’s growing interest for a “flutter”. And these indicators all seem to be consolidating the company’s opinion that SBTech can do well to expand these opportunities and monetize them.
We firmly believe, however, that there is room for further growth and that the operators which are poised to integrate our platform and technology solutions next year will reap sizeable benefits.
The company is clearly decided to make a splash back in Europe, with a Swedish license now being worked on, and platforms backed by the company’s technology already in the country. But that’s hardly the whole deal. SBTech is also focusing on expanding in Pennsylvania and even South Africa, which is another market that the company wants to cater to.
With a truly global reach, Mr. Carter’s forecast for SBTech is quite well-weighed. There’s nothing to indicate that the company will relent in its pursuit of new opportunities.