Spain’s Orenes to Pursues Austrian Expansion
Author:
Muhammad Gregory
Spain’s Orenes Group has announced plans to continue its European expansion, this time within Austria. Its moves in Austria include an investment of over €14 million and the acquisition of sports betting company, bet2day Sportwetten. The sportsbook originated in Austria and has expanded across most of the country, now with over 500 betting locations. The Orenes Groups has plans to grow bet2day Sportwetten even further.
Grupo Orenes – or the Orenes Group – is continuing its international expansion with the acquisition of Austrian company bet2day Sportwetten.
?Benjamin Kaufmann/Unsplash
A hub in Central Europe
Currently located in most of the Austrian regions — including Tyrol, Styria, Salzburg, Lower Austria, Upper Austria, Burgenland and Caritia — bet2day Sportwetten has a solid base for Orenes to build from. Among its betting locations are numerous terminals as well as gaming rooms and an online platform.
Orenes is not new to the online betting industry, having partnered with the company R. Franco to create a new gambling site for Spanish customers in 2021. However, Orenes has much more planned for its work with the Austrian betting network.
Austria is a strategic hub for Orenes’ future goals, in which it is investing over €300 million total across a three-year period, in a plan that was announced this year in March. Austria is seen as a base within Central Europe, from which Orenes can continue to pursue additional European markets.
In a statement about the acquisition, the company also disclosed that it believes Austria is a great potential growth market in itself. They see a real opportunity to create new business in the country, and beyond.
While originating in Spain, Grupo Orenes already operates in many countries including: Mexico, Ecuador, Colombia, Andorra and Ireland. Some of its recent international projects include the opening of the Unnic complex in Andorra.
It also will soon open a new casino in the Dominican Republic, adding to its roster of international bases. The Dominican Republic project is known as Larimar City, located in Punta Cana — a massively popular tourist and investment hub, and home to many burgeoning real estate investment projects. However, Grupo Orenes is not the principal group behind the project; they are signed on just to manage the casino facilities, so far.
The company has of course already left its mark on Spain, owning more than 300 gaming establishments throughout the country. One famous spot is Odiseo, located in Murcia, an ultra swanky entertainment complex with a casino, bars, restaurant and performance venues. Aside from gambling, Orenes specializes in restaurant and other leisure projects.
With the acquisition of bet2day Sportwetten, Grupo Orenes hope to complete another part of the puzzle of their work in Europe, expanding their offerings across gambling, dining, leisure and more, with more sales channels than ever before. Another goal is to become a technological expert in these fields, and an international leader in these industries.
Another year of growth ahead
Grupo Orenes has chosen to invest a great deal in its European endeavors. However, it appears to have the earnings to back up such choices. It recently announced a turnover of over €790 million. Its reported EBITDA — or Earnings Before Interest, Taxes, Depreciation, and Amortization — was €117 million.
The group estimates that it will earn €1.3 billion in income by 2025 and that 50% of these earnings will originate in digital platforms. They also project growth in employment across their Spanish businesses.
