Kambi continues Kindred growth and development support

Kambi continues Kindred growth and development support

Thursday, May 10, 2018 Posted by Craig Davies
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Contract extension to be put to shareholders this month

Kambi has been lauding the success of its sportsbook solutions, after agreeing a new long term sports betting contract with Kindred Group.

Extending the successful partnership, the betting platform and software providers are to continue powering the sportsbooks of the group.

The contract extension is to be put to shareholders at the upcoming annual general meeting, set to be held in Stockholm on May 31, with revised terms for the convertible bond between the two parties also included.

Max Meltzer, Kambi chief commercial officer, told TotallyGaming.com: “As one of the largest operators in Europe, we are delighted to have agreed an extended deal with Kindred Group for the long-term.

“Our successful and long-running partnership illustrates why Tier 1 sportsbooks needn’t own their technology, so as long as they have the ability to control it.

“Kambi’s flexible and configurable technology has enabled Kindred to deliver two very distinct betting products via their Unibet and 32Red brands, both proving popular with different customer segments, while we have also supported Kindred with multiple regulated market launches.

“This success is being replicated across the Kambi network, and is why we have been able to sign extended deals with five of our largest customers in recent months.”

The fresh agreement is to be effective as of January 1, should the contract extension receive the approval of shareholders, with Kambi detailing that through a number of strategic extensions it will have secured key sources of revenues for the foreseeable future

In its statement Kambi states that the extension of the commercial contract will provide long-term stability, as well as creating a solid platform for further growth, whilst the convertible bond is also extended in a form agreeable to both parties, and provides long-term security to both.

Totally Gaming says: Through this deal Kambi continues to cement its position as a supplier to Tier 1 operators in regulated markets, and follows a number of extended deals signed since since the second quarter of last year. Deals with 888 Holdings, LeoVegas, Paf and Napolean Games have been joined by a number of new operators added to the Kambi network, including Stanleybet Romania and Casumo.

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