Today betting group 1xBet Group has announced a content agreement with TonyBet, which will see the latter acquiring the 1xBet UK trademark to distribute products.
Under the terms of the deal TonyBet will be granted the rights to develop products for the UK market, which they'll then be able to apply to the 1xBet UK brand under their own umbrella. The move comes as 1xBet works to strengthen the enforcement of brand infringement involving their names. The company claims that unlicensed groups have been branding bootleg movies with their logo, although some think the casino group themselves are behind the branding.
"We are pleased to have concluded a deal to acquire the UK trademark of one of the fastest-growing gaming companies in the world," said a TonyBet spokesperson. "In the future we hope to roll out products and services under the 1xBet UK trademark in line with the relevant UK regulations and we are excited about the opportunities this gives our business."
A 1xBet Group spokesman added: "While we have ambitious plans to continue our international expansion, the UK is not a key market for the group at this point in time. We are pleased with the deal and believe it was the right decision to sell the 1xBet UK brand to TonyBet, which is locally regulated and can benefit from the owning and operating of the UK trademark of a truly globally gaming group."