Online gambling operator Betsson has made a strategic foray into the Serbian market after successfully securing a license to operate in the locally regulated iGaming sector. The company has now introduced an online casino platform under the brand name Rizk.
The online gaming giant says this new move aligns with its overarching strategy of pursuing growth through geographic expansion into emerging markets. The Rizk brand is now available to local players on desktop and mobile.
“I am proud to welcome Serbia as yet another locally regulated market for Betsson. Our vision is to offer the best customer experience possible and through the brand Rizk we are now ready to deliver a best-in-class online casino offering in Serbia”, Pontus Lindwall, President and CEO for Betsson AB, said.
The move is part of Betsson’s continuous expansion in Central and Eastern Europe and Central Asia (CEECA). The CEECA region accounted for 43% of the Group’s revenue in the second quarter of 2023. In May, the company acquired Belgian sports betting and gaming operator betFIRST for a total sum of €120 million ($130 million) to enter the market.
Revenue for that quarter marked an all-time high for the second consecutive quarter, with casino revenue also posting a new record. Revenue for the three months ended June 30 was €236.8 million ($265.4 million), up by 27.1% from last year’s second quarter, which stood at €186.3 million ($206.91 million). The revenue also surpassed the previous high of €221.9 million ($246.85 million), which was set in Q1 this year, by 6.7%.