Paraguay’s Harrison Group expands into sports betting with Solbet acquisition

The Harrison Group in Paraguay has entered the sports betting industry by acquiring a 50% stake in Solbet, a prominent online gaming platform with a strong presence across Latin America. Known for its diversified portfolio across various economic sectors, the Harrison Group aims to expand its footprint in the rapidly growing online betting market. The acquisition follows the restructuring of Paraguay’s National Gaming Commission (Conajzar), which now operates under the Directorate of Tax Revenue (DNIT).

Solbet, recognized for its diverse offerings in online casino games, sports betting, and cutting-edge technology, is expected to benefit from the Harrison Group’s resources and expertise. The move aligns with the group’s strategy to diversify into high-growth sectors and enhance its market position in Paraguay and the region. The company plans to introduce new technologies and user benefits, emphasizing security and transparency in transactions.

This strategic acquisition underscores the Harrison Group’s ability to adapt to global trends in digital entertainment, positioning it as a key player in the online betting industry. The group anticipates significant growth opportunities in the gaming sector by 2025, driven by the increasing popularity of online betting in Paraguay.

Robert Harrison, a leader of the group and current president of the Paraguayan Football Association (APF), is spearheading this expansion. Despite FIFA regulations restricting sports officials from involvement in betting, the group has proceeded with the acquisition, signaling its commitment to the sector.

The online gaming market in Paraguay has seen substantial growth, further boosted by recent regulatory reforms under President Santiago Peña. The integration of Conajzar into the DNIT aims to combat illegal operations and eliminate monopolies in online sports betting and lottery services, a move initiated during the previous administration.