The partnership will see Altenar power PalmsBet’s global operations, allowing both companies to access new markets but also consolidate their presence in existing ones.
Altenar Moves Focus on Balkans with PalmsBet in Bulgaria
Altenar is particularly interested in strengthening its product offering and reputation as a leading tech provider in Europe. The company has been working in the Balkan region in particular, with the latest partnership being a nice boost for Altenar’s long-term prospects there and beyond.
Presently, Altenar will focus on Bulgaria where the market has been developing rapidly, offering a lot of untapped potential. According to an official press release by the company, sports betting revenue is estimated to reach €850 million in 2026, a significant increase from the 2020 numbers.
Altenar is similarly expanding in Africa with the company launching in both Kenya and Peru last year. PalmsBet, for its part, is one of the most prominent sports betting and gaming brands on the Bulgarian market, offering more than 20,000 sporting events every year.
The operator will now benefit from Altenar’s sports betting and virtual sports offering, which should give it an additional boost in the region and also help consolidate its standing in the Bulgarian market. Commenting on this opportunity, Altenar commercial account manager George Mavridis said that PalmsBet is a truly exciting operator and partnership therein as the Bulgarian market is full of potential when it comes to sports betting.
Taking on Global Markets and Europe
He hailed Altenar’s success in launching the brand in Kenya and said that moving to the Balkan region opens many doors that are yet to be explored. Altenar has had a strong year in 2022 and is likely to continue and carry on this momentum in 2023. Growth is a first and foremost priority, the company says.
Altenar has been actively expanding its footprint in the European market, with the company reaching out to new markets and most recently with ChillyBets in the newly regulated gambling market in Germany. The company similarly struck partnership with L&L Europe Limited, an operator of popular iGaming and betting brands and sites in the United Kingdom.