UK-based sports betting and online gaming operator William Hill announced Sunday it acquired a majority stake in Alfabet S.A.S. to mark its first entry into a regulated gambling market in Latin America.
“We are delighted to announce our acquisition of a majority share in Alfabet S.A.S, and with it, our first entry into a regulated Latin American state.”Ulrik Bengtsson, CEO, William Hill
Established Betting Operator
Operating under the BetAlfa brand since 2018, Alfabet S.A.S. offers games of chance and sports betting in Colombia, licensed by the national regulator, Coljuegos. By acquiring a majority stake in the operator, William Hill continues to deliver on its strategy for growth through expansion, making Colombia the 9th regulated market of active operations.
Recently, William Hill doubled down on its presence in the Latvian market by launching one of its flagship iGaming brands, Mr Green, to follow on the previous acquisition of MRG Group and its popular local brand 11.lv. Mr. Green was licensed to operate in the country by the state regulator, the Lotteries and Gambling Supervisory Inspection of Latvia.
Colombia Speaks Potential
Being the first Latin American country to implement a European-style gambling regulatory framework, Colombia’s hidden growth potential driven by the progressive changes in the regulations over the last few years has been continuously attracting interest.
“The Colombian regulated market is a role model for the Latin American gambling sector, and we are excited by this opportunity to deliver a very competitive product and safe player experience under the William Hill brand in the country.”Ulrik Bengtsson, CEO, William Hill
Only a few days ago the sports betting industry in the country joined efforts to protect the integrity in sports and tackle fraud and manipulation of sporting outcomes.
The #YoLeApuesto campaign aimed at raising the awareness of everyone involved with sport and supported by all 16 licensed sports betting operators, the two industry representative bodies, Asojuegos and Fecoljuegos, as well as the national regulator Coljuegos, will be delivered across social and digital media channels of the organizations and operators.
William Hill Ownership Changing Hands
The acquisition of Alfabet S.A.S. comes during times when William Hill itself is being acquired by US casino giant Caesars Entertainment. The £2.9 billion takeover bid tabled by Caesars was accepted by an overwhelming majority of William Hill shareholders in November, having been approved by the Board of Directors the month before.
Caesars Entertainment, which is only interested in the US operations of William Hill and would offer the rest for sale, had to fend off buying interest from investment fund Apollo Global Management.