Merkur Sportwetten increases stake in Belgium’s Betcenter6th August 2020 11:52 am GMT
Gauselmann Group’s Merkur Sportwetten has agreed to acquire an additional stake in Belgian retail sports betting operator Betcenter Group.
Merkur Sportwetten purchased a 50.1 per cent stake in Betcenter at the beginning of 2018, and has now increased its investment in the operator to 74.9 per cent.
Betcenter currently operators 87 outlets (70 betting shops and 17 kiosks) across Belgium, as well as an online sports betting offering. It has been utilising retail sports betting products from another Gauselmann subsidiary, Cashpoint Malta, for the past four years
Following the increased investment from Merkur, Seydi Tekin will remain as managing partner of Betcenter, while Carsten Schaudienst will continue as a board member.
“In 2018, we decided to sell part of our business in order to be able to further expand our business activities in Belgium and grow more strongly as a company,” said Tekin. “We found an ideal partner in Merkur Sportwetten, which supports us as a technology partner for system bets as well as financially.
“The partnership quickly brought benefits and we were able to double our turnover in the past two years.”
Merkur Sportwetten managing director Markus Ettlin added: “Together, we want to increase the already large footprint of Merkur Sportwetten under the Betcenter brand in Belgium. In line with this, we will further extend the omnichannel product offering (physical as well as online) in the coming months.”