Malta, 27 February 2018
Kambi makes strategic investment in virtual sports provider
Agreement with Virtus Sports will enable Kambi to offer a high-quality and complementary virtual sports betting product to operators
Kambi Group plc has made a strategic investment in gaming start-up Virtus Sports, an agreement which will enable Kambi to offer a high-quality virtual sports product to its growing customer base.
The deal has seen Kambi take just over a 25% stake in Virtus Sports, with the £500,000 (€565,000) investment paid in full from Kambi's net cash, which as of 31 December 2017 was €26.9m.
Founded in 2014 and with offices in Malta and the UK, privately-held Virtus Sports delivers betting opportunities across a wide range of virtual sports, including football, horseracing, greyhounds and motor sport.
As part of its investment, Kambi will integrate Virtus Sports' 3D virtual sports product into the Kambi Sportsbook platform, in turn making it available to Kambi's network of operators.
Kambi believes Virtus Sports' high-quality virtual sports portfolio will complement its current offering and provide its customers with further opportunities to engage with players.
Developed for online and retail channels, the games are fully customisable so operators can, among other options, incorporate their own branding, modify game content and adjust pay out margins.
Kambi chief executive, Kristian Nylen, said: "Despite being in its early stages of development, Virtus Sports has shown an ability to produce high-quality and engaging virtual sports games.
"Through this investment, not only will Kambi close a product gap by integrating the games into the Kambi Sportsbook, but we will also support Virtus Sports' ongoing product development and sales to the wider market," he added.
Virtus Games founder and CEO, Andrea Brecevich, commented: "We are delighted the management team at Kambi has recognised the potential of the Virtus Sports' business and the high-quality production of our games.
"We are very excited about our games being made available to the Kambi network and look forward to releasing additional sports and other product enhancements very soon," Brecevich added.
For further information, please contact:
Kristian Nylén, Chief Executive Officer
David Kenyon, Chief Financial Officer
+44 (0) 203 617 7270
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 15 customers include 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.
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.