STS completes deal for Czech betting software firm Betsys
Polish operator eyes further international expansion after acquiring proprietary technology business
Polish bookmaking giant STS has agreed a deal to purchase Czech betting software company Betsys.
Betsys was already the main provider of IT solutions for the operator, for both its online and retail channels, while it also provides technology services to Czech lottery operator Sazka.
According to STS, Betsys generates revenue of “several million euros per year”, although no exact figure was disclosed.
Nearly 100 tech specialists operate the development of the bookmaking system at Betsys, which will now be integrated into STS, allowing the operator to take control of its own in-house technology.
“We have finalised a takeover of Betsys, in which STS already holds the majority of shares,” said STS CEO Mateusz Juroszek.
“It is a significant investment which secures our further development. The proprietary bookmaking system, and the possibility for its in-house development, constitute a key advantage in our industry.
“We have already been generating more than 85% of revenue via online channels, so further growth in IT solutions is of strategic value to us.
“Only the best European bookmaking companies can boast of their own technology and platform. This is another area that clearly distinguishes us from other operators both in Poland and in Europe,” he added.
STS expanded its business beyond Poland and into European markets in February 2019.
The bookmaker’s offering is now available in the UK, Germany, Iceland, Luxembourg, Slovenia, Andorra, San Marino, Gibraltar, Slovakia, Malta and Latvia.