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Kambi Group has expanded its wings further by signing a long-term deal with SJSC Latvijas Loto (Latvian Loto). The deal will allow the company to provide its premium Sportsbook and services to Latvia’s national lottery operator.
The Latvian Government-owned Latvijas Loto will launch Kambi’s fully managed Sportsbook through its various digital channels. The Kambi Sportsbook will be integrated into Latvijas Loto’s player management platform, with a launch scheduled for later this year.
The deal marks Kambi’s first public lottery customer, with the agreement possible due to Kambi’s accreditation from both the European Lottery and World Lottery Associations.
Kambi’s ongoing commitment to corporate probity, as well as its expertise in risk management and trading of local sports, was key to winning the sought after contract.
Due to the H2 launch, the deal is expected to have minimal impact on Kambi’s 2018 revenues.
Kristian Nylén, Kambi Chief Executive Officer, said: “To meet the standards required by Latvijas Loto, Kambi had to demonstrate the highest levels of compliance and security, as well as showcase a market-leading sports betting product.”
“Having proven ourselves to be the secure and quality choice, we’re delighted Latvijas Loto has selected Kambi as its Sportsbook supplier and we look forward to building a strong and lasting partnership.”
Janis Pone, Latvijas Loto member of the board, commented: “With this deal, the Latvian national lottery company expands its product portfolio with sports betting games, offering quality products for playing in a legal and controlled way and also shifting profits to the public interest.”
For further information, please contact:
Kambi Group plc
Kristian Nylen, Chief Executive Officer
+44 203 617 7270
Disclaimer: The information in this press release is such that Kambi Group plc is required to disclose under the EU Directive of Market Abuse Regulation and the Swedish Securities Market Act.
The information in this report was sent for publication on 11 July 2018 at 16:45 CET by CEO Kristian Nylén.
Kambi is a provider of premium sports betting services to licensed B2C gaming operators. Kambi Group plc is listed on First North at Nasdaq Stockholm. Our services encompass a broad offering from frontend user interface through to odds compiling, customer intelligence and risk management, built on an in-house developed software platform. Kambi’s 21 customers include DraftKings, Rush Street Interactive, ATG, Kindred Group, 888, Paf, Televisa, LeoVegas, Mr Green and Napoleon Games. Kambi employs more than 600 staff across offices in Malta (headquarters), Bucharest, London, Manila, Stockholm and Sydney.
Kambi utilises a best of breed security approach, with guiding principles from ISO 27001. Kambi is eCOGRA certified. Kambi Group plc is listed on First North at Nasdaq Stockholm under the symbol “KAMBI”. The Company’s Certified Advisor is Redeye AB.
About Latvijas Loto
Latvijas Loto is Latvian national lottery company, and its only owner is the Latvian state.
Latvijas Loto is a member of the World Lottery Association and its European Section – the European Lotteries Association.
Source: European Gaming Industry News