MultiChoice Bought 20% Stake in Betking, Sports Betting Company

MultiChoice expanded its repertoire with an agreement to buy a 20% stake in Africa-focused sports-betting platform BetKing for as much as 1.8 billion rand, giving it access to a sector that’s emerged as a winner from lockdown restrictions that have encouraged homebound entertainment.

“Sports betting is an interesting market that is aligned to our Pay-TV business,” said Chief Executive Officer Calvo Mawela. “We have a lot of sport on our platform, and many people that are betting watch more games.” he said. DSTV packages include live English soccer, while MultiChoice agreed to a deal with Walt Disney Co. earlier this year to add two ESPN channels showing U.S. pursuits such as basketball.

BetKing started in Nigeria and has shown rapid growth over the past two and a half years, according to the CEO. “They plan to be pan-African and will be entering South Africa at some stage too,” he said

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