Altenar Strengthens Presence in Bulgaria through Partnership with Magic Bet

In June of last year, Altenar, the leading provider of turnkey solutions, made an announcement regarding its plans to expand into the Bulgarian market through a partnership with Palms Bet. Now, the company has revealed that it will be strengthening its presence in the Balkans with a new agreement with Magic Bet, a Bulgarian operator.

The strategic deal with Magic Bet is expected to allow Altenar to further establish its position in the region by integrating its technology onto Magic Bet’s online platform. Initially, the partnership will grant Magic Bet access to Altenar’s portfolio, including Virtual Sports. As the agreement progresses, Magic Bet aims to enhance its selection of odds and risk management, ultimately becoming a leading sportsbook in its jurisdiction.

This new partnership marks a successful start to the year for Altenar, as the company continues to expand across multiple areas through agreements with global operators. Panagiotis Lantzas, the company’s account manager, emphasized the significance of Bulgaria as a key region for their expansion plans in the Balkans. He also expressed enthusiasm for collaborating with Magic Bet, which he described as one of the leading operators in the space.

Meanwhile, Magic Bet’s chief operating officer, Plamen Dzhedzhev, praised Altenar for its world-class technology and expressed excitement about entering 2024 with the newly-inked partnership. Dzhedzhev believes that the integration will position Magic Bet as one of the top online operators in the territory, offering a wide range of verticals to their customers.

The integration with Altenar comes at a time when Bulgaria’s sports betting sector is projected to generate over €850 million ($928.8 million) in revenue by 2026. This aligns with the country’s efforts to tighten regulations surrounding gambling, including amendments to gambling laws to address issues such as gambling advertisements and money laundering.

Overall, the partnership between Altenar and Magic Bet signifies a significant growth opportunity for both companies in the Bulgarian market and the wider Balkans region.