The capital raised will be used to accelerate Stanleybet’s growth in Romania with funds earmarked for the optimization of the company’s existing online sports betting and gaming platform as well as the digitization of Stanleybet’s local network of sports betting agencies. The company also hopes to invest in mobile apps and to develop a network of premium agencies under the Stanleybet Plus name.
Stanleybet hopes that this investment in the local Romanian market will help the group achieve an annual turnover of at least €120M (RON 600M) and net profit of €16.5M (RON 83M) by 2024. 2021 forecasts predict that the company will achieve a turnover of €85M (RON 418M) — double 202o — and a net profit of €7.5M (RON 37.8M).
The bonds will be issued by Bucharest-based Stanleybet Capital, the holding company established last year with the purpose of developing the group’s business interests in Romania which include the brands/companies Stanleybet, Game World SRL, Game World Invest Westgate Romania SRL, WAP Holdings Romania SRL, and Megabet International SRL.
Gambling industry journalist with a background in online poker and trading. Covering the regulated U.S Sports industry and the exciting world of online poker.