Exclusive: Curaçao-licensed Cola Group invests $14.5m into African sports betting venture
Cola.bet subsidiary secures Nigerian licence as parent group ramps up igaming investment
Cola Group is set to invest $14.5m into its online gambling brand Cola.bet as the firm continues to make strides in the African market, EGR can exclusively reveal.
The $14.5m investment follows the acquisition of a Nigerian gambling licence, taking its number of African licences up to four.
Cola.bet already operates in Zambia, Kenya and Ethiopia and will now expand into the continent’s second largest gambling market in the shape of Nigeria.
The sports betting licence was granted by the Lagos State Lotteries Board to Cola.bet’s subsidiary Cola Games Limited to offer its services in the country.
Cola.bet also holds a Curaçao licence and is in the process of obtaining further licences across Africa, Europe and Latam.
EGR understands Cola.bet is in the process of becoming a crypto-ready operator as part of its ongoing development strategy.