Cola Group expansion strategy sees 14 5m investment plan
Gaming and entertainment specialist, Cola Group, has announced the expansion of its digital division, Cola.bet, with a $14.5m investment.
The operator delivers a mobile proprietary platform to developing markets, one that aims to provide customisable and adjustable integrations. Payment methods are embedded onto the platform whereby partners are introduced to a sports events selection, alongside esports or casino games.
To support the associates of Cola Group, a consulting service and licensing brokerage is also available, providing access to knowledge and best practice in each operating region.
Cola.bet aims to expand its sports betting and iGaming offering, with responsible gaming as a paramount focus. The betting operator holds a Curaçao gambling licence with the focus of obtaining further licensing in Africa, LatAm and Europe, contributing to the growth of its global footprint.
The investment follows Cola.bet securing its fourth African gambling licence in Nigeria, the continent’s second-largest gambling market. This new licence adds to Cola.bet’s operations alongside Zambia, Kenya and Ethiopia.
Dinu Bors, Cola.bet COO, said: “Cola.bet delivers an exceptional customer-first experience and the launch augments our global ambitions within the iGaming space. The platform is highly customisable and grants B2B partners instant access to curated content for a plethora of markets. We’ll be rolling out several innovative features over the coming months, we’re only just getting started.”
Cola.bets subsidiary company, Cola Games Limited, was granted a sports betting licence by the Lagos State Lotteries Board. Similar to Ethiopia, the Nigerian market is deemed retail-centric as opposed to internet-based. This move for Cola.bet was a strategic one to leverage its blueprint and successes from Ethiopia to expand in Nigeria.
Dana Varnytska, Cola.bet CMO, added: “Our strategy is built on a localised programme which has been developed through thorough research into market nuances and player preference. Players will benefit from bespoke bonus promotions and extremely competitive odds on the most popular events.”
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