Entain close to securing licenses in Kenya and Zambia

Entain, the global sports betting and online gambling behemoth is edging closer to securing dual licenses for its vision for expansion into Africa. The owner of international brands such as Ladbrokes, Bwin, Coral, PartyCasino and many more has reported its efforts at expanding its reach into the largely untapped African market is gradually advancing as they are close to securing gambling licenses in Kenya and Zambia. Launching into the African market is a part of the company’s newly designed business strategy.

Speaking about the move, Chief Governance Officer, Rob Hoskin, called it a “long term investment” that comes alongside their desire to “explore partnerships in Africa”. He noted: “We are looking to build a successful, sustainable business over there, and its early days.”

According to Hoskin, the Ladbrokes owner plans to launch Bwin, its online sports betting brand, in Africa and will possibly add physical retail outlets in some markets. The company has partnered with major telecommunications companies in both regions to provide payment services through their platforms which are already used by millions of people who do not own a conventional bank account.

If Entain gets the licenses, it will only be following in the footsteps of fellow UK-based company, 888Holdings. Earlier in the month, the gambling conglomerate launched an Africa division, 888Africa, that will provide online betting services in Kenya, Tanzania, Mozambique and Zambia.

Africa is now a hotbed for sports betting companies looking to reach new markets and make more profits. According to a financial forecast, the African market is set to be valued at $5.6 billion by 2030. The numbers are plausible because more and more Africans now have access to the internet through their smartphones. Additionally, their love for gambling has been fueled by the few sports betting companies that have managed to break into the continent.

Asides from that, many countries in the continent have regulated gambling markets and so it is only natural for companies like Entain to make their way there.

Africa is not the only emerging market on Entain’s expansion radar. CGO Hoskin said the company is “looking everywhere” to aid its growth and apparently that includes markets like Brazil, Peru, Chile, India, Japan, Malaysia and Vietnam. In the case of Brazil, the company is positive about launching there as the country is at the tail end of legalizing sports betting. The same goes for Peru and Chile that are also working out the details of making sports betting legal in the country.

More gambling news