Entain set for Africa launch as it nears dual licence approval
FTSE 100 firm edging closer to entering Zambia and Kenya as it looks for further global expansion in due course
Entain is poised to expand into regulated African sports betting markets imminently as the operator edges closer to licence approval in two countries.
In an interview with Bloomberg, Entain chief governance officer Rob Hoskin revealed the operator was on the cusp of securing licences in Zambia and Kenya as part of its push into the region.
Entain had hoped to launch in Africa the end of 2021 after the London-listed firm established a 51%-owned subsidiary called Impala Digital to help to facilitate the expansion.
In March 2021, Impala Digital acquired the trade assets of an unnamed B2B technology platform business currently operating in Africa for an initial $40m.
Entain has the opportunity to purchase the remaining 49% of share capital in the business in due course.
EGR understands the process has been “step-by-step” since the acquisition and development of Impala Digital.
Due to the vast differences in technology available in Africa compared to Europe, with 3G and 4G not widely accessible, the development of product has been slower in order to produce a platform that works with smartphones and less powerful feature phones.
According to the global mobile association, GSMA, around 800 million people in Sub-Saharan Africa, or 72% of the population, are still not connected to mobile internet.
Entain and Impala staff will run operations on the ground, with the company having been on a hiring spree for product and platform managers in recent months.
EGR also understands Entain will continue to look at additional African markets, as well as waiting eagerly on regulation in Brazil and opportunities in Asia, such as India.
Earlier this month, 888AFRICA – a JV involving a number of industry veterans and 888 – confirmed the launch of the 888bet brand in the regulated sports betting markets of Kenya, Tanzania, Mozambique and Zambia.