In a strategic move aimed at expanding its footprint in the South African iGaming industry, SoftSwiss, a prominent international iGaming software provider, has acquired a majority stake in Turfsport, a South African company specializing in multichannel wagering software for sports, horseracing, and lotto.
This acquisition underscores SoftSwiss’ commitment to global expansion and its recognition of the burgeoning opportunities in the South African iGaming sector. Turfsport, currently serving over 40 operators in South Africa, has established itself as a trusted provider of software solutions for horseracing, lotto, and sports betting. Impressively, the cumulative number of bets placed by Turfsport clients across various platforms surpasses a staggering 1.5 billion annually.
CEO at Turfsport, Christian Neuberger, expressed his enthusiasm for the partnership, stating, “To provide more innovation and react faster to the growing demands of the iGaming industry, Turfsport was looking for an international partner that would complement our strong brand in South Africa, and we are absolutely delighted to have found the ideal partner in SoftSwiss and its dynamic and fast-growing team.”
Both SoftSwiss and Turfsport anticipate delivering innovative product enhancements and services that will give their customers a competitive edge in the dynamic iGaming market. The collaboration aims to leverage Turfsport’s local expertise and SoftSwiss’ international reach to make significant strides in both the South African and African iGaming markets.
Co-CEO at SoftSwiss, Andrey Starovoitov, emphasized the strategic significance of this acquisition, stating, “Acquiring a successful local company is one of the fastest and most efficient ways to enter a new market. With this agreement, SoftSwiss takes a significant step forward in its extensive expansion into South Africa and the African continent.”
Starovoitov also highlighted the value of gaining access to technologies developed over the last 35 years by world-class specialists at Turfsport. SoftSwiss intends to enhance its product portfolio and maintain its commitment to providing high-end solutions to its partners in the evolving iGaming landscape.
The acquisition of Turfsport not only increases SoftSwiss’ visibility in the African market but also cements its local presence in the region, positioning the company as a key player in the South African iGaming sector.
In related developments within South Africa’s iGaming industry, Light & Wonder entered the regulated market through a collaboration with Hollywoodbets in December of the previous year. Additionally, Optimove geared up for growth in South Africa by partnering with Amelco in October 2023. These moves underline the growing significance of the South African iGaming market and the increasing interest of international players in this dynamic sector.
