Smurfit-backed gambling and gaming technology firm Gan has launched its online betting business Coolbet in Mexico, its 10th market globally.
he company has signed a locally licensed partner, allowing the use of its brand to offer customers the opportunity to place bets on its platform. Coolbet secured the partnership last week.
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Gan chief executive Dermot Smurfit Jr
Endre Nesset, the president of business-to-consumer for Gan, said he was “thrilled” to bring the Coolbet brand to Mexico. “We expect our share of the market to grow over time, but initially we expect both investment spend and revenue to be modest, as we gain familiarity with the market.
“Thus far, our planned launch in Mexico has been asset-light, with limited marketing spend focused on targeted social media and digital campaigns, and plans to sponsor Mexican athletes and streamers to drive awareness.
The company plans to sponsor Mexican athletes and streamers to drive awareness
“We look forward to supporting our local partners as we grow our presence in this exciting market.”
Coolbet customers in Mexico will be able to bet on events, including the 2023 Mexico Open golf tournament, the MLB Mexico basketball championships, the Copa Libertadores, Copa Sudamericana and Recopa Sudamericana football tournaments, and Formula 1.
Coolbet launched in 2016, offering online casino and sports betting to Estonian and Scandinavian markets. It was bought by GAN in 2021 for about €149m.