South African firm LottoStar has received significant investment after UK bookmaking heavyweight Betfred struck a deal to take the majority shareholding of the online betting company.
Widely recognised as South Africa’s leading brand for fixed-odds numbers betting and Live Games, LottoStar has boosted its presence via a high-profile marketing campaign.
The major partnership is set to ‘broaden’ its offering through Betfred’s investment, as it continues to uplift and rebuild communities in South Africa through its CSR policies.
LottoStar’s Founder and Chief Executive Officer, Tasoulla Hadjigeorgiou, commented: “LottoStar was founded in 2014 as a family-run business with an innovative model to offer a fixed-odds betting online platform in South Africa.
“As an online betting leader in South Africa, we are excited to partner with one of UK’s best bookmakers. We are confident that this partnership will broaden our offering and provide our customers with the highest quality services. Our partnership also paves the way for greater collaboration and expansion, and we are excited to grow our family.”
Meanwhile, Betfred will ‘significantly’ elevate its presence in South Africa, building upon the 53 shops it currently has open in the country.
It also has an online business following the acquisition of Betting World and Sepels Sports bet, however, the investment in LottoStar ensures that the operator’s South African position is strengthened further.
“We are delighted to partner with such a fast-growing company in South Africa, the business will not only complement our activity in South Africa but our international businesses in the United States and Europe,” added Betfred Chief Executive Officer, Joanne Whittaker.
“We look forward to working closely with the LottoStar team to support the continued growth of the business providing world-class games and services to the online betting market in South Africa.”