Russian Joint Venture

Sportingbet Plc today announces a joint venture with First International Bookmakers Company (“FIBC”), Russia’s second largest licensed bookmaker, trading under the well known Liga Stavok brand.

Under the five year deal, Sportingbet and FIBC agree to partner exclusively to establish a Russian online sports betting offering under the “Liga Stavok powered by Sportingbet” brand.  Sportingbet are the sole provider of online services to the joint venture, which will be a unique offering in the market.

FIBC operates 256 Liga Stavok licensed betting outlets in 67 cities across Russia, and is expanding at a rate of 25 new openings per month.  Liga Stavok has unparalleled access to the Russian sports betting market as a result of its exclusive betting partnership with the Russian Football Premier League. As one of only 18 licence holders, Liga Stavok is one of the country’s most recognised betting brands.

The fast growing Russian sports betting industry has an estimated turnover of $1.8bn a year.

Andrew McIver, Group Chief Executive, said:

“I am delighted that Liga Stavok has chosen to partner with Sportingbet.  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.  This partnership is a perfect fit with Sportingbet’s strategy to build geographical diversity through new markets, working with the highest quality partners where appropriate.”

For further information please contact:

Sportingbet Plc Tel: 020 7184 1800
Andrew McIver, Group Chief Executive 
Jim Wilkinson, Group Finance Director 
Paul Roberts, Director of Business Development and B2B 
 
Maitland Tel: 020 7379 5151
George Hudson Mob: 07595 270 877
Dan Yea Mob: 07595 270 691