Betway already operates legally in Buenos Aires
Betway is the latest operator to join the group of international brands that already operate gambling and sports betting in the Autonomous City of Buenos Aires. As has been the case with Betsson, bet365, 888 or Codere, Betway has also achieved the official certification of the LOTBA, the city lottery. The city of Buenos Aires and its metropolitan area are considered one of the most attractive markets in South America. Since the opening of the Argentine market to online gambling, there have been many operators who have sought to obtain an official license that allows them to legally operate in one of the most promising gaming environments in the region.
Betway, another international brand that begins to legally operate casino games, sports betting and electronic sports in the Autonomous City of Buenos Aires. ©Mampu/Pixabay
The legislation approved by the official entity in the Autonomous City of Buenos Aires, the LOTBA, only allows those companies to operate legally online gaming brands working with a local partner . Betway gets a license together with its Buenos Aires partner Bingo Pilar which belongs to the local company Oasis Entertainment.
The Pilar Bingo operated by the Oasis Entertainment company is located in the town of Pilar in the province of Buenos Aires and operates thanks to a license from the Provincial Lottery, a different entity from the LOTBA. Oasis Entertainment designs and produces gaming terminals such as slots and video slots, as well as multi-bet roulettes. It is an experienced brand in the local context that has casinos and video lottery terminals in addition to the province of Buenos Aires also in Misiones, Corrientes and Entre Ríos.
An experienced local operator serves Betway as an ideal platform to reach Argentine players. The international trademark may offer casino games, sports and esports . A complete offer for one of the most reputable operators in New Zealand.
Betway is thus added to other operators of international prestige that in recent months they have been positioning themselves in the prosperous Argentine market that despite the economic difficulties derived from the high inflation it remains one of the most buoyant in the Latin American environment.
Together with Betway, Betsson , Codere or bet365 they have also obtained a license from the LOTBA and already operate online in the city of Buenos Aires. Among the developers of software for games there have also been movements in this regard. Evolution , Pragmatic Play or Zitro Games they have managed to become certified as legal suppliers in the autonomous city.
Latin America is no stranger to Betway's business strategy, which has already achieved significant successes in the region. The diversification of markets is essential and through the Spac Sports Entertainment Acquisition Betway it was going public in the United States at the beginning of the year with the aim of becoming strong in the North American market where the brand would already be authorized to operate in more than 10 states. It has also closed agreements with a significant number of sports teams of the most important leagues in the United States.
Numbers are not deceiving
2021 has been a year of growth for Super Group, the parent company of Betway. This is evident from the latest financial report published by the company. Revenues and profits have far exceeded the previous year's numbers. This is attributed to the organic growth in alternative to European markets , a global diversification strategy that would be proving enormously positive.
Super Group's revenues increased by 45% to 1.3 billion euros. The the company's profits totaled 235.9 million euros and the average number of monthly customers grew by 75%, standing at 2.62 million compared to 1.5 million in 2020.
“It's been another tremendous year for Super Group, thanks to the continued organic growth of the business and our continued expansion into new markets around the world. Despite the tightening of regulations in some European markets, we have exceeded our forecasts for both revenues and adjusted EBITDA... We are proud of all our teams around the world and we thank them for their effort to obtain these results. This is a fantastic performance.” – Alinda van Wyk , chief financial officer, Super Group, at press release
