GamblersPost Gamblers Post is a dedicated news and networking portal in the online gambling industry which features news, opinions, interviews as well as product and software reviews.
Online gambling and betting operator Betsson has acquired a 75 per cent stake in Suaposta Racing, securing an early foothold in Brazil ahead of an anticipated regulated market opening.
Betsson has become the single largest stakeholder in the race betting operator. However, Suaposta’s founders Andre Gelfi and Fernando Correa will be in charge of the brand’s local online operations after retaining a 25 per cent stake in the brand.
“We are delighted to announce this agreement with Betsson Group, who are perfectly positioned to enable our business to realise its full potential in the newly regulating Brazilian market,” announced ” Gelfi, CEO of Suaposta Racing.
Suaposta claims to be the only brand currently licenced to offer sports betting in Brazil. It operates in partnership with the Rio Grande do Sul Jockey Club, which is licenced by the Brazilian Ministry of Agriculture, Livestock and Food Supply. The brand was relaunched in 2018, following a successful management buy-out from Codere.
In September, Betsson governance sanctioned a secured private bond placement raising €90 million in working capital from institutional investors to support “ongoing expansion initiatives”.
Terms of the deal are yet to be disclosed.
