“The company is well known with its brand Palms Bet, that founded in 2014. In 2011 appendix of the Gambling Act was set and it allowed online casinos operators to be licensed. As a result, in 2014 the company received an online casino license. In 2018 the company acquired a license for sport betting and ever since we offer those two products”, said the owner of the company Milo Borisov at money.bg show on Bulgaria ON AIR TV.
“In 2019 and 2020 the company grew rapidly and become more popular in Bulgaria. In 2021 we are witnessing really good results, which gives us hope that we can go to the BSE. The reason we are looking for additional financing is that we consider this the right moment to go and expand to other markets has come, so we need additional money for marketing. Among the potential regions is Peru – we are familiar with the market there, because we have been present with small regional office there since 2008. We are also focused on the Ukrainian marked because we were also worked there”, comment Borisov.
“The main part of the BSE’ finance will be invested in the expansion in different markets”, said Lachezar Petrov – SEO of the company.
“We are focused on Kenya, where our site is already working. According to our analyses the targeted markets are in their early development of online gaming which will give us a good opportunity for better positioning there”, he claimed.
According to Petrov minimum 40% of the profit will be distributed to the future shareholders.
According to Rossi McKee, another owner of Telematic Interactive Bulgaria, in every industry, including the gaming one, has its own risks and challenges.
“We are carefully analyzing the current economic situation in our sector and based on this we are making plans for expansion and positioning. We analyze so many factors when we decide to go on new markets. Now we are looking for markets with huge range and potential. Evaluating the risks is essential for the success. Our industry is one of the most regulated industries and minimizing the risk is vital. This gives us confidence that we can be stable on those markets”, said McKee.
Another challenge is unfair competition of unlicensed operators, she considered.
“Unlicensed operators offer more attractive promotions and have more aggressive marketing policies. In our strategy for overcoming those unfair competitions is to offer different and unique products and functions which our subsidiary CT Interactive develops such as technological platforms and games”.
The start of IPO is on February 14th and ends on February 18th when people can order to any of the intermediaries which can be found on the BSE’s website or on Financial Supervision Commission.
“After the potential success of the IPO we are going to focus on the market in Peru. We are going to develop B2B division. At this moment this department is operating at hundred of websites all over the world”, said Milo Borisov.