Altenar Expands Bulgarian Foothold with Magic Bet Agreement

Last June, the leading provider of turnkey solutions, Altenar, announced it would strengthen its foothold in Europe by penetrating the Bulgarian market with the help of a partnership inked with Palms Bet. 

Now, the supplier of iGaming and sportsbook software has announced it would further increase its presence in the Balkans by securing a fresh deal with Bulgarian operator Magic Bet. 

The Agreement Marks a Successful Start of the Year for Altenar

The new strategic deal is expected to help Altenar further boost its position in the area by incorporating its award-winning technology onto Magic Bet’s online platform. 

In the initial stages of the agreement, the partnership will allow Magic Bet to reap the benefits of getting access to Altenar’s rich portfolio which features Virtual Sports. 

In the future, following plans for additional growth outside of the country in the upcoming years, the online deal is expected to see Magic Bet boost its selection of odds and risk management while becoming a leading sportsbook in its jurisdiction.

The new partnership represents a good start to the year for the iGaming software provider that finds its inspiration in its customers’ vision, helping it further expand across multiple areas thanks to its agreements with global operators.

The company’s account manager, Panagiotis Lantzas, described Bulgaria as “a key region” for them, following their expansion plans in the Balkans. Lantzas also expressed their delight to collaborate with Magic Bet, which he called “one of the space’s leading operators.”

Mixed with their state-of-the-art technology, Magic Bet’s ambitious plans for the future are expected to help the operator reach higher rates of success across Bulgaria. The country’s sports betting sector is expected to generate more than €850 million ($928.8 million) in revenue by the year 2026. 

Magic Bet, “Excited to Be Going Into 2024” With Altenar  

At the same time, Magic Bet’s chief operating officer, Plamen Dzhedzhev, took the opportunity to speak about Altenar’s impressive reputation “for world-class technology” while expressing excitement to enter 2024 with the newly-inked partnership.

Dzhedzhev also added that the integration is projected to help them turn into “one of the top online operators within the territory” while offering a rich plethora of verticals to their customers.

Last month, Altenar agreed to make its sportsbook platform available for Pragmatic Solutions’ clients via Player Account Management integration.

In October, Bulgaria’s Ministry of Finance announced they were working on a series of gambling law amendments in the context of the country’s efforts to crack down on gambling advertisements and money laundering.