France Pari purchases Spanish sports betting firm Suertia
Paris-based operator targets ?100m revenues following acquisition into Spanish market
French operator France Pari has acquired Spanish sports betting firm Suertia.es, a move the company says will help it generate revenues of more than ?100m next year.
France Pari purchased 100% shares of the Spanish online sports betting and casino operator for an as-yet undisclosed fee.
Founded in 2011, the Spanish firm has recorded yearly growth of 100% over the last two years, according to France Pari, and forcecasts to generate its first profits this year.
It has marketing agreements with Spanish sports media outlets and sports leagues, as well as former Barcelona striker Julio Salinas.
“The acquisition of a company like Suertia with such a potential growth on the dynamic Spanish sports betting market opens a new stream of development for our group, both for acting directly as an operator and also for providing our sportsbook and our technology to other operators,” said Herv? Schlosser, founder and CEO of France Pari (pictured right).
“Taking into account the new revenue stream coming from this operation, we target to generate more than ?100m in B2C and B2B revenues next year,” he added.
The French operator’s total revenues were ?20m for 2015, a 17% increase from ?17m in 2014, with its B2B division SPORTNCO reporting an 80% year-on-year rise in revenues.
And the firm has set an ambitious target of hitting ?100m revenues in 2017 following the takeover of Suertia.
“After five years of strong competition with multinational operators, I am proud to sell Suertia to an international fast-growing company, that will maintain the team, the spirit and values that have conducted Suertia to its first successes,” Eduardo Losilla, former owner and CEO of Suertia, added.