Bwin eyeing Russian entry

Various Russian media outlets are reporting GVC Holdings brand bwin is poised to enter the Russian market in partnership with A&NN Investments’ Russian-licensed bookmaker, Digital Betting LLC, and with the participation of Rambler&Co, an online and mobile advertising services provider.

A&NN is led by Russian billionaire lawyer, banker and investor, Alexander Mamut, who also owns Rambler&Co.

Digital Betting LLC will reportedly invest at least Euro 10 million per annum in the project while bwin, providing the technology platform and brand, will receive a portion of the profits.

bwin’s entry marks the first legal entrance of a foreign online bookmaker in the Russian market which, according to the Kommersant newspaper, is estimated to be worth around one billion rubles, or Euro 15.7 million per annum. Backers believe bwin.ru should breakeven within three years of operation and will have gained a significant segment of the online betting market in terms of revenue.

Rambler&Co will will generate traffic for bwin.ru through its Lenta.ru, Gazette.ru, Championat.com and upcoming Rambler.Sport.ru websites exposing the brand to an audience of over five million sports fans.

bwin.ru’s official website and mobile application is expected to launch within the next couple of months.