bwin to Quit from Russian Sports Betting Market
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Sports betting brand Bwin is going to quit from Russia’s online gambling market, as its parent company, A&NN Investments, is looking to unload its license in the country.
The license is held by Digital Betting LLC, which operates online in Russia using the Bwin.ru domain through a joint venture with UK-listed GVC Holdings. Bwin.ru is a joint venture of GVC and A&NN, which is owned by Russian billionaire Alexander Mamut, who also controls digital media firm Rambler.
A source for the website claimed that Digital Betting’s license may be transferred to a division of payment processing outfit Qiwi, which handles transactions for multiple Russian-licensed bookmakers. Qiwi has denied this report. Other sources claimed that The Stars Group (TSG) is in the running to acquire Digital Betting’s license.
Source: Latest News on European Gaming Media Network
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