Betfred buys out LottoStar majority stake as it expands in South Africa

Betfred is clear about how far it wants to take things in South Africa. As a result, the company has just acquired a majority stake in LottoStar, a local operator that will enable the British betting and gaming company to continue expanding.

Betfred owns 53 betting shops in the country, but it plans to step up. Its most recent acquisitions of Betting World and Sepels Sportsbet are just part of a much more ambitious plan to establish itself on the market.

Expansion is not strange either as this year will bring us the World Cup in Qatar with billions expected to go down on sports bets across the world. The previous acquisition moves in South Africa were not in a vacuum, as the company sought to continue growing its footprint, as Betfred COO Phil Siers noted recently.

Through LottoStar, Betfred is making a third M&A move in the country, reflecting on its exceptional potential as a sports betting market, but also the company’s own ambition to be the preeminent operator in the market.

Betfred CEO Joanne Whittaker was excited to welcome the latest acquisition and asset to the company. Whittaker expressed his delight to see another company and brand enter the Betfred family and become a part of the growing ecosystem in Europe and South Africa.

"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," added the executive in an official press release.

LottoStar Founder and CEO Tasoulla Hadjigeorgiou welcomed the opportunity and said that the company was excited to welcome one of the biggest names in the British sports betting market in South Africa.

This partnership should pay significant dividends to LottoStar as well, Hadjigeorgiou added. She explained that the company would hope to attract more customers as a result of the collaboration and it is also a stepping-stone for future tie-ups and alliances that could further enhance the experience and lead to a broader reach.

Previously, Betfred acquired Betting World from Phumelela Gaming and Leisure in June 2021. The company paid £6.1m for the asset. Both Betting World and LottoStar are established companies.

LottoStar offers fixed-betting and live casino content and has been in business since 2014. The company also runs its offer exclusively on a dedicated platform that it developed itself.

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