SportPesa enter Italy sports bet market with RCS Gaming deal

Kenyan sports betting operator SportPesa has entered the Italian market via its acquisition of locally licensed operator RCS Gaming.

Late last week, SportPesa Global announced that it was acquiring 75% of RCS Gaming, a subsidiary of the RCS Media Group. Terms weren’t disclosed, but the deal will see RCS rechristen its Italian-licensed Gazzabet brand as SportPesa.

Gazzabet.it launched in September 2014 as a partnership with gambling technology provider Playtech but has yet to claim a significant share of Italy’s online gambling market. Official figures show Gazzabet.it’s sportsbook revenue totaled a mere €800k in 2016, equating to about 0.8% of the overall sports betting market. The site’s casino operations earned around €820k, equal to around 0.18% of the market.

The deal also calls for SportPesa to enter a five-year advertising contract to promote its new Italian betting brand via various RCS Media Group outlets, including the Corriere della Sera daily newspaper and the La7 television channel.