Sportingbet Closes Russian Deal

Russian market to get new sports betting brand A deal has been inked between Sportingbet Plc and the second biggest licensed bookmaker in Russia, First International Bookmakers Company (FIBC) aka Liga Stavok. Based on the five-year deal, the two companies are to establish a sports betting brand for the Russian market - "Liga Stavok powered by Sportingbet." The online services in the joint venture will be provided only by Sportingbet. The fast expanding number of 256 Liga Stavok licensed betting outlets operated by FIBC spreads around 67 cities throughout Russia, and keeps a growth rate of 25 new openings per month. It has exclusive betting deals with the Russian Football Premier League, which provides it with unparalleled access to the Russian sports betting market. Liga Stavok falls among merely 18 licensees, and represents one of the best known brands in the Russian sports betting industry, whose estimated turnover amounts to$1.8bn a year. "I am confident that the combination of Sportingbet's world class online sports betting product and expertise with Liga Stavok's strong brand and exclusive betting partnerships will enable the joint venture to build a leading position in this exciting, fast growing market," said the group CEO Andrew McIver.