South Africa's iGaming Rise: Global Tech Company SOFTSWISS Acquires Turfsport

GZIRA, Malta, Jan. 18, 2024 /PRNewswire/ -- SOFTSWISS, a leading tech company in the iGaming industry, acquires a majority stake in Turfsport, a leading South African provider of multichannel wagering software for sports, horse racing, and lotto. This move aligns with the SOFTSWISS goal of expanding its international presence.

For over 35 years, Turfsport has been offering fully managed end-to-end solutions for online, mobile, and retail operators. The total number of bets placed by all Turfsport clients across various platforms exceeds 1.5 billion annually. Currently, more than 40 operators in South Africa utilise Turfsport's platform for horse racing, lotto, and sports betting.

Andrey Starovoitov, Co-CEO at SOFTSWISS, comments: "Acquiring a successful local company is one of the fastest and most efficient ways to enter a new market. I am pleased to announce the completion of this long-awaited deal. With this agreement, SOFTSWISS takes a significant step forward in its extensive expansion into South Africa and the African continent. I believe this region is becoming the next focal point globally, following Latin America.

"What's even more valuable for us is that we not only gain market presence but also access technologies developed over the last 35 years by world-class specialists. We look forward to enhancing our product portfolio and continuing our commitment to providing high-end solutions to our partners."

Christian Neuberger, CEO at Turfsport, comments: "To provide more innovation and react faster to the growing demands of the iGaming industry, Turfsport was looking for an international partner that would complement our strong brand in South Africa, and we are absolutely delighted to have found the ideal partner in SOFTSWISS and its dynamic and fast-growing team.

"Both companies look forward to delivering innovative product enhancements and services, giving our customers the competitive edge to grow and succeed in an increasingly dynamic market. We are all truly excited about the winning combination of Turfsport's local and SOFTSWISS' international expertise and the prospects for this duo in the South African and African markets."

The strategic move of the Turfsport acquisition aims to strengthen the SOFTSWISS product portfolio, catering to regional needs. In addition, leveraging Turfsport's excellent reputation and visibility in the African market, SOFTSWISS will reinforce its local presence.

The SOFTSWISS team is eager to share insights into the South African market during ICE London 2024 at Stand N8-231.

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