MaxBet expands in Serbia through El Dorado Slot Clubs acquisition


Southern-Europe-focused gaming and betting company MaxBet has reached an agreement with Bargame AD, acquiring the latter’s entire ownership stake in El Dorado Slot Clubs throughout Serbia. 

Bargame, a CT Gaming Group subsidiary, has sold its ownership stake in the Serbian land-based casino company to MaxBet in a transaction that is subject to merger clearance that is expected in Q1 of 2023. 

Darko Živanov, CEO of MaxBet, explained: “With this acquisition, we will welcome El Dorado Slot Clubs to the MaxBet family. We firmly believe in the further growth and development of the slot business segment and the successful implementation of our business skills and experience in running companies in the industry. 

“MaxBet continues to implement its strategy, combining organic expansion with selected acquisitions in Serbia and the region.”

Founded in 1997, MaxBet primarily focuses on Serbia and other southern-Europe regions, with a presence in Montenegro, the Republic of Srpska and North Macedonia. Through this deal, the firm has extended its outreach in Serbia, with a host of land-based El Dorado Slot Clubs positioned all over the country. 

El Dorado Slot Clubs offer patrons a number of slot machines, in addition to traditional casino games such as roulette and multiplayer virtual titles. There are currently over 10 El Dorado locations across Serbia.