SportPesa, Kenyan sports betting operator, has entered the Italian betting market after acquiring a significant shareholding in RCS Gaming and thus has expanded its European profile.
RCS Media Group, the betting/gaming arm of European media giant, operates popular media properties like La Gazzetta dello Sport, Marca, El Mundo and La Corriere. The deal would let SportPesa governance acquire 75% stake in RCS gaming.
Though, both the companies have not disclosed the terms of the contract, but according to the reports SportPesa will take over the GazzaBet.in, an RCS owned online sports betting brand.
The RCS Media Group said in a statement that it would focus on its key media assets across the Europe, and streamline a number of its non-core divisions. The decision for SportPesa to expand internationally came after the Kenyan finance ministry levied a 35% tax on all forms of gaming and betting.
The global division of SportPesa will be integrated with RCS Gaming’s asset. Adam Beighton will run the new Italian operations.