Swedish betting firm Betsson has announced that they've purchased a 75% stake in the Brazilian gaming operator Suaposta.
The agreement will give Betsson access to the Brazilian sportsbetting market, and will see the company's founders maintaining the remaining 25% of the corporate shares. Those two founders, Andre Gelfi and Fernando Correa, will remain on-board as the CEO and CFO of the company. Brazil's betting market is growing, as online betting regulation is rumored to be coming in the near future.
Suaposta holds a key advantage in the Brazilian market, as they stand as the only licensed betting brand in the country. They had a brand re-launch in 2018 and have been following that with an extensive marketing effort.
Commenting on the deal Saposta CEO Andre Felfi said, "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. We are hugely grateful for the role Partis played in bringing this transaction together."