NEW ONLINE SPORTSBETTING OFFERING IN RUSSIAN DEAL
Sportingbet and Liga Stavok exclusive partnership deal
Sportingbet Plc has signed a partnership with First International Bookmakers Company (FIBC), Russia's second largest licensed bookmaker better known as Liga Stavok.
Under the five year deal, Sportingbet and FIBC agree to partner exclusively to establish a Russian online sports betting offering under the "Liga Stavok powered by Sportingbet" brand. Sportingbet are the sole provider of online services to the joint venture.
FIBC operates 256 Liga Stavok licensed betting outlets in 67 cities across Russia, and is expanding at a rate of 25 new openings per month. Liga Stavok has unparalleled access to the Russian sports betting market as a result of its exclusive betting partnerships with the Russian Football Premier League. As one of only 18 license holders, Liga Stavok is one of the country's most recognised betting brands.
The fast growing Russian sports betting industry has an estimated turnover of $1.8bn a year.
Andrew McIver, Group Chief Executive, "I am confident that the combination of Sportingbet's world class online sports betting product and expertise with Liga Stavok's strong brand and exclusive betting partnerships will enable the joint venture to build a leading position in this exciting, fast growing market."