Buenos Aires market continues to expand as Betway gains licence

Betway has secured access to the Buenos Aires betting and gaming sector, securing a licence in the city via its partnership with Bingo Pilar.

Granted by the Loteria de la Ciudad de Buenos Aires (LOTBA), the licence enables access to the city’s three million consumers – although it does not extend to the province, which exists under a separate licensing framework.  

The firm will offer its three core products in the city – sports betting, casino and esports, made available by its website and app, which is open for download in the App Store. 

Anthony Werkman, Betway CEO, said: “It’s been a long time in planning, so we’re obviously very happy for the Betway brand to be going live in the city of Buenos Aires. 

“Latin America is already a successful territory for us, so we’re very pleased to be able to offer our products to the passionate sports fans in Argentina as we continue our growth in the continent.”

Betway’s parent company, the Super Group, has been targeting greater international expansion for its flagship sports betting brand, alongside its Spin casino holding. 

In pursuit of this, the firm finalised its merger with SPAC partner Sports Entertainment Acquisition Corporation (SEAH) to secure a listing on the New York Stock Exchange (NYSE) in January.

The group reported a strong close to 2021 trading in its latest financial update, particularly driven by launches in several new markets, especially in the Americas – gaining entry to the US states of Iowa, Colorado, Indiana, Pennsylvania, New Jersey and Arizona via the Digital Gaming Corporation (DGC), whilst other market entries were secured in France and Tanzania. 

Super Group’s first set of results as a public enterprise showed a revenue increase of 45% to €1.32 billion (2020: €908m), whilst EBITDA stood at €314.5 million, a 46 per cent increase on the 2020 result of €215.8 million.

Juan Pablo Barahona, Head of Buenos Aires City for Betway, added: “It’s a great achievement for the Betway brand to be granted a licence in Ciudad Autónoma de Buenos Aires, a region where sport is a huge passion. 

“Our products are universally popular, so it’s an exciting time for us as we showcase our proposition to the people of Buenos Aires.”