Kenyan sports betting operator SportPesa has expanded its European profile, entering the Italian betting market by acquiring a majority shareholding in RCS Gaming.
The deal sees SportPesa governance acquire a 75% stake in RCS Gaming, the betting/gaming arm of European media giant RCS Media Group which operates popular media properties La Gazzetta dello Sport, Marca, El Mundo and La Corriere.
The parties chose not to disclose terms, but it is believed that SportPesa will takeover RCS’ GazzaBet.it online sports betting brand.
This month RCS Media Group released a corporate statement detailing that the firm would look to streamline a number of its ‘non-core divisions’, and focus on its key media assets across Europe.
For its part, SportPesa has been forced to expand its operations internationally in 2017 following a 35% blanket tax on all forms of gaming/betting being imposed by the Kenyan finance ministry.
RCS Gaming’s assets will be integrated within SportPesa’s global division which at present has ambitions to expand the bookmaker within the UK, South African and Tanzanian markets.
The new Italian operation will be run by Adam Beighton, who commented on the acquisition “presents new opportunities to showcase to our current and future customers the SportPesa culture.”