William Hill Plc has purchased a ‘majority interest’ in Alfabet SAS, a Colombian-licensed operator, securing its first South American sportsbook business.
The FTSE250 betting community states that Colombia will be “the ninth regulated betting market in which William Hill will have an active presence” at the close of its 2020 trade.
Alfabet SAS, which has been operating in Colombia since 2018, is the operating company of BetAlfa.co, a federally licenced online sportsbook and casino brand that holds a licence from Coljuegos, the national gambling regulatory authority of Colombia.
In its transaction notice, as the first LATAM jurisdiction to introduce ‘a European-style licencing scheme’ enabling international operators to operate within its marketplace, William Hill endorsed Coljuegos’ progressive online gambling regulations.
William Hill CEO Ulrik Bengtsson said: “We are delighted to announce our acquisition of a majority share in Alfabet SAS, 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.”
William Hill follows FTSE competitors Entain Plc and Flutter Entertainment, who announced during Q4 trading that in early 2021, having secured local partnerships, they would launch their respective Bwin and Betfair flagship brands in Colombia.
As the governments of Brazil and Argentina’s Buenos Aires province are expected to agree on final regulatory requirements to launch their new marketplace regimes, 2021 has been marked as a crucial year for South America’s burgeoning online gaming industry.
Meanwhile, as new US owners Caesars Entertainment finalise plans to sell the UK and European betting units of the heritage betting company, William Hill is awaiting another transformative year in which City analysts expected a hot pursuit of ‘William Hill offcuts.’