William Hill purchases BetAlfa to enter Colombian online gambling market
UK operator William Hill is making a major move on the South American online gambling market with its recent purchase of a large stake in BetAlfa, a licensed Colombian operator. It’s believed that purchase is just the first step in what appears to be a major effort to plant the William Hill flag in the growing South American market.
As it stands, the regulated South American online gambling market is relatively small in comparison to that part of the world’s relatively large population. That seems to be mainly the result of legislative foot dragging, but Colombia is one of the exceptions and boasts a relatively robust regulated market with 20 licensed operators. BetAlfa is one of those licensed operators and has been offering sports betting and online casino games since 2018.
According to an official William Hill press release, the move into Colombia marks the company’s ninth entry into an international, regulated market. Company officials went on describe the Colombian market as one of South America’s “mature” gaming markets. (Though it’s relatively small compared to other international markets.)
William Hill CEO Ulrik Bengtsson commented on the purchase saying, “We are delighted to announce our acquisition of a majority share in Alfabet S.A.S, and with it, our first entry into a regulated Latin American state. The Colombian regulated market is a role model for the Latin American gambling sector, and we are excited by this opportunity to deliver a very competitive product and safe player experience under the William Hill brand in the country.”
It’s currently not know how large William Hill’s stake in BetAlfa is, but if the company’s US success is any indication of what they’ll do in South America, they should wind up with another successful market entry.