SOFTSWISS acquires majority stake in Turfsport to expand presence in South African iGaming market

In a strategic move to bolster its global footprint, iGaming technology provider SOFTSWISS has secured a majority stake in Turfsport, a South African firm specializing in multichannel wagering software for sports, horse racing, and lotto.

For over 35 years, Turfsport has been offering fully managed end-to-end solutions for online, mobile, and retail operators. The total number of bets placed by all Turfsport clients across various platforms exceeds 1.5 billion annually. Currently, more than 40 operators in South Africa utilize Turfsport's platform for horse racing, lotto, and sports betting.

“Acquiring a successful local company is one of the fastest and most efficient ways to enter a new market. I am pleased to announce the completion of this long-awaited deal. With this agreement, SOFTSWISS takes a significant step forward in its extensive expansion into South Africa and the African continent. I believe this region is becoming the next focal point globally, following Latin America,” Andrey Starovoitov, Co-CEO at SOFTSWISS, said.

“What's even more valuable for us is that we not only gain market presence but also access technologies developed over the last 35 years by world-class specialists. We look forward to enhancing our product portfolio and continuing our commitment to providing high-end solutions to our partners,” he added.

"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, Christian Neuberger, CEO at Turfsport, said.

“Both companies look forward to delivering innovative product enhancements and services, giving our customers the competitive edge to grow and succeed in an increasingly dynamic market. We are all truly excited about the winning combination of Turfsport’s local and SOFTSWISS’ international expertise and the prospects for this duo in the South African and African markets.”

The strategic acquisition is expected to strengthen the SOFTSWISS product portfolio, catering to regional needs. In addition, leveraging Turfsport’s reputation and visibility in the African market will allow SOFTSWISS to reinforce its local presence.

The SOFTSWISS team will be sharing insights into the South African market during ICE London 2024 at Stand N8-231.