Malta, 26 July 2017
Kambi Group plc extends contract with 888sport
Today, Kambi announces a multi-year extension to its contract with 888 Holdings, which will see Kambi extend its premium Sportsbook and technology services to the operator's leading 888sport brand.
This multi-year deal recognises Kambi as the provider of 888's Sportsbook, supporting 888's growth and development in the sports vertical. It also cements Kambi's position as the leading supplier to Tier 1 operators in regulated markets. For Kambi and 888sport, the partnership has been a major success, with 888's sports division having grown more than 5-fold since the two firms formed their partnership in 2013. The contract extension secures multi-year revenue for Kambi from a key customer.
The new commercial terms are valid as from 1 January 2017. During the first six months of 2017, the new terms will impact Kambi's revenues, leading to a net reduction in its accounts of approximately EUR1m. . Kambi expects these terms, together with the quality of the Kambi Sportsbook, to provide longer term security for both parties.
Commenting on the agreement, Kristian Nylén, CEO of Kambi,said:
"We are delighted to continue building on the successful partnership we have had with 888sport over the last four years and look forward to further contributing to its future growth.
"During this time, 888sport has seen a massive increase in its Sportsbook revenues, showcasing the quality of the Kambi Sportsbook services.
"This contract extension is proof of the quality, relevance and stability our scalable Sportsbook offers our customers as we continue to invest to improve the best B2B Sportsbook in the market."
Kambi Group plc is a B2B supplier of managed sports betting services to gaming operators. Kambi's product encompasses a broad offering from front end through to odds compiling and risk management. The company's current coverage includes more than 185,000 live betting events and 300,000 pre-match events per year covering 65 different sports from all over the world. Kambi utilises a best of breed security approach, with guiding principles from ISO 27001. Kambi is a member of WLA, EL, Cibelae and is eCOGRA certified. Kambi Group plc is listed on First North at Nasdaq Stockholm under the symbol "KAMBI". Kambi's Certified Advisor is Redeye AB.
Contact Kambi Group plc
CEO, Kristian Nylén +44 20 3617 7270
Disclaimer: The information in this report/press release is such that Kambi Group plc is required to disclose under the EU Directive of Market Abuse Regulation.