Colombian operator Colbet is preparing to launch its live casino after the local regulator Coljuegos approved the modality back in 2020, the same year as 70% of the company was acquired by gaming and sports betting giant Betsson.
The brand, which has already announced that it will start operating as Betsson, estimates that its sports betting vertical will continue to contribute around 80% of the total revenue of the company. However, the casino business will increase its claim to 20% thanks to the new modality.
“According to Coljuegos’ numbers, casinos’ growth levels are above 100%, which is why it’s very important for us to compete in the market,” said Santiago Melo, Colbet’s General Director, to local outlet La República.
“On the other hand, last year was a transition year. We recruited a new commercial team, changed platforms, and we have one last step to completely renew [the company]: by the first quarter of the year, we will change our name from Colbet to Betsson, so that it becomes part of the international structure of the company,” he said.
The operator estimates that the change will help with its popularity among Colombian players. At the moment, it’s the eighth most popular company, but it expects to be in the top three once it changes its name to Betsson.
Melo explained that increasing their offering is already one of the pillars of the company’s expansion, as they went from having 25 games, something he describes as an unattractive offer for the market, to more than 400 in the last few months.
The General Director also explained that sports betting contributes to attracting more players and that the FIFA World Cup in Qatar later this year will be key.
“Football is still the most popular sport, it’s led by passion and it’s what’s going to help us once the Liga Colombiana returns to activity”, he explained, adding that tennis and basketball are also in demand among Colombian players.
In October 2017, Colbet became the fourth company to obtain a license from Coljuegos to operate online gaming in Colombia, under the domain www.colbet.co.
Betsson acquired a 70% majority stake in Colbet back in July 2020 as part of the international expansion strategy of the Swedish company, and migrated the Colombian’s operations to Betsson’s platform to “provide the local market with a betting house and casino with cutting-edge technology and a wide range of payment solutions.”
