Altenar Powers Palms Bet in Bulgarian Market Expansion
Altenar, a premier provider of sportsbook and iGaming software, has reinforced its global partnership with operator group Palms Bet by launching its services in Bulgaria. This expansion underpins Altenar’s position as a leading tech provider in Europe, aligning itself with one of Bulgaria’s top sports betting operators.
Bulgaria represents a significant market for Altenar, given the substantial growth projected in its sports betting revenue, which is anticipated to exceed €850m by 2026. This represents an impressive increase of nearly €600m from the figures six years prior.
As part of this strategic partnership, Altenar will enrich the offerings for Bulgarian customers of Palms Bet by providing them access to its award-winning multi-channel sportsbook technology. This technology will facilitate a wide array of sports, esports, and virtual games for the operator’s patrons.
Palms Bet holds the distinction of being the first gambling company in Bulgaria to be listed on the country’s stock exchange. Currently, it offers over 20,000 sporting events for bettors to wager on. A partnership with La Liga further exemplifies the brand’s significant presence in football betting across Europe.
This latest collaboration between Altenar and Palms Bet strengthens the relationship between the prominent multi-channel sportsbook provider and the operator group. As a result, their combined operations are now active across several markets in Europe and Africa, demonstrating the reach and influence of their productive alliance in the dynamic igaming industry.
Commenting on the deal, George Mavridis, Account Manager at Altenar, said: “We have always discussed how significant Bulgaria is to us and we are thrilled to continue growing in this new market with Palms Bet.
“We were delighted to launch in Kenya and Peru earlier this year together, and we know Bulgaria is full of potential. We look forward to helping our partners maximise their customer engagement, as well as continued expansion alongside Palms Bet.”
Alexander Sjarov, Chief Sports Betting Officer at Palms Bet, added: “By integrating Altenar into our platform, we are confident that we will enhance player engagement and solidify our position as one of the leading gaming companies worldwide.”