Esports wagering services provider Ultraplay will extend its current partnership with operator XB Systems substantially, after entering into an agreement to integrate its B2C white label property BUFF.bet with X-Bet.co.
Ultraplay has supported X-Bet.co as the key platform provider for XB Systems for the past three years, creating a name that has become Ultraplay’s biggest network partner.
Ultraplay management states in its contract announcement that its partnership with XB Systems will mark the ‘next step for BUFF.bet’ and will now act as a stand-alone wagering brand for esports.
In the future, BUFF.bet operations will be combined with XB Systems which will take over the domain’s day-to-day management. Meanwhile Ultraplay will retain its position as a leading provider of technology systems. XB Systems has also announced that it will maintain BUFF.bet as the lead brand, incorporating the customer base of X-Bet.co.
UltraPlay CEO Mario Ovcharov has commented: “We believe that X-Bet.co and BUFF.bet will form a great synergy together. With the two sites joined forces and the experienced management team of XB Systems firmly in place, BUFF.bet will undoubtedly go from strength to strength becoming one of the leading esports betting operators worldwide.”
Following the incorporation of BUFF.bet properties, XB Systems announced that it would review options on a potential company IPO, supported by Razor Consulting GMBH, a Swiss venture capital firm.
In an attempt to grow its capital structures by 2020, XB Systems has named JP Capital, a London-based ’boutique investment fund,’ to serve as the lead financial advisor to the planned IPO for the company.
Daniel Miller, CEO of XB Systems said: “The merger is an absolute recipe for success and a win-win situation for everyone. Under the BUFF.bet brand we are targeting a major slice of the global esports market.
He added: “With our unique proposition of media portal and eSports betting site powered by UltraPlay’s data and betting solutions, we are certain that our market share will grow massively over the next 24 months.”