YouBet plans Euro expansion, seeks local partners
US tote operator YouBet is looking for European partners with which to launch an expansion programme outside its home market that could include online poker, casino and other gambling.
US TOTE OPERATOR YouBet is looking for European partners with which to launch an expansion programme outside its home market that could include online poker, casino and other gambling.
YouBet president and chief executive David Goldberg told EGRmagazine.com that the company was looking for “European partner or partners with significant presence, whether that be in marketing or media.”
It will focus on emerging rather than established European jurisdictions, targeting those that are likely to regulate soon rather than established markets such as the UK. “The legislative landscape in Europe is shifting, but those markets that look most likely to offer regulated, liberalised online gambling first will be the focus,” Goldberg said.
The tie up could be with a company targeting one European country or many, but must be one with an untarnished reputation with authorities, Goldberg specified. “In this space there have been plenty of people who have dabbled in online gambling, sometimes in the face of regulators, but we want someone who is squeaky clean,” he said.
“We also want someone who has the presence and the ability to attract customers, because we don’t want to empty our wallets trying to attract customers, and we know that the marketing climate in Europe is a very aggressive and competitive one.”
The sports specialist could also branch into poker, casino and other forms of egaming. Goldberg explained: “YouBet has a strong backend for online wagers: we don’t claim to be experts in poker or casino as those markets aren’t legal in the US. But if we went into jurisdictions where they were legal, YouBet could add that in combination with software providers or partners for those games we don’t have expertise in, knowing that the backend YouBet has could be successfully leveraged for that market.”
The company has a “hit list” of people it is interested in, and has also received in-bound enquiries. Goldberg would not confirm how many parties he was in talks with, but said it was fewer than ten.
The company has not confirmed how quickly it would move on the deal or deals, but said one could be tied by as soon as six months “if all the stars align for us”.