Unibet Returns to France with Purchase of Solfive Group
Unibet is one of the largest online gambling operators in the world. With a focus on the European market, the company currently provides services in 27 languages. With its return to the French market, it is safe to say that they will be reaching an even larger audience.
Last week, Unibet signed an agreement to acquire the Solfive Group. This puts the company in position to re-enter the French market with authority.
The deal includes full ownership of SPS Betting France SAS, which is comprised of EurosportPoker and EurosportBet.
Although subject to approval, the deal is expected to be completed by the end of 2011. Once the deal goes through, Unibet will gain access to the licensed French market. On top of this, they will immediately take over approximately 130,000 certified accounts.
Unibet has realized that the French online gambling market is on the rise. Through this purchase, the company is able to gain immediate access to the market as well as an established user base. Most importantly, the platform being purchased is already licensed to offer poker, sports betting, and horse racing. This helps avoid a lot of the red tape often times involved with entering a new market.
Unibet is well aware of the fact that generating profit in the near future will be difficult. However, the industry in France is growing with more and more players becoming active on a regular basis.
The French market is attractive for a number of reasons:
- The player-base is growing at an astonishing pace
- Players are interested in a variety of online games, as well as sports betting and horse racing
By purchasing the already established Solfive Group brand, Unibet is effectively eliminating a lot of the leg work. With this acquisition, Unibet plans on rebranding the company as Unibet.fr to take advantage of its name recognition as well as its history of European online gambling success.
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