NeoGames’ BtoBet enters Ethiopia with UtopBet

Under the deal, BtoBet will provide its proprietary sportsbook platform and other sports betting services, including risk management, to UtopBet in the East African country.

The Ethiopian online and retail sports betting operator will offer betting on both local and international sports events, while it will also add esports betting to its offering for the first time.

BtoBet’s deal with the UtopBet brand means the supplier has a presence in 28 different jurisdictions around the world.

“We are pleased to further strengthen our presence in Africa, by going live in the highly competitive Ethiopian market,” NeoGames’ chief executive Moti Malul said. “UtopBet is one of the more well-known brands in the local market and I am pleased that the choice to power their retail and online channels fell on our flexible solutions and services.”

The deal comes after NeoGames last week reported a 63.6% year-on-year rise in revenue for the second quarter of its 2022 financial year, driven by its acquisition of Aspire Global towards the end of the period.

NeoGames completed its purchase of the B2B igaming technology solutions provider in June. Though the provider is still integrating Aspire Global into its operations, it said the acquisition has already had a significant impact on its operating results, contributing $8.3m in revenue since the deal went through on 16 June.

Malul described the acquisition as a “truly transformative transaction”, saying it positions the business as a leading global provider in technology and content across ilottery, online sports betting and igaming.

BtoBet was acquired by NeoGames as part of the Aspire Global purchase.