Bwin, a subsidiary of GVC Holdings, will launch an online betting platform in partnership with local businessman Alexander Mamut in Russia, the Russian newspaper Kommersant reports.
The site is believed to be the first in the Russian sportsbook market launched by a major international bookmaker. It would also happen as the country continues to crack down on unlicensed international sites taking bets in Russia, which included the blocking of more than 100 Bwin-related sites.
According to the report, Mamut-controlled Russian-licensed bookmaker Digital Betting LLC and Rambler & Co, would facilitate the launch of a Bwin.ru platform. Digital Betting was licensed in Russia in 2016 and is a member of the First Self-Regulatory Organization of Russian Bookmakers. However, the company does not now have a retail bookmaking presence in Russia.
Kommersant cited GVC spokesperson Jay Dossetter and Digital Betting CEO Dmitry Sergeyev, who will fulfill the role of Bwin Russia’s CEO, in confirming the report.
Russian partners have pledged to spend up to $11.3 million a year to maintain the site while Bwin would provide the technological platform and brand, the report said. The group expects to reach a break-even point in three years, the report said.
