Kambi Group plc
24 Mar 2023 - 05:00
Malta, 8 May, 2018
Kambi Group plc proposes to extend contract with Kindred Group plc
Today, subject to the approval of a new term of the convertible bond between the two parties at its forthcoming AGM, Kambi announces its intention to sign an extension to its contract with Kindred Group plc.
The deal will extend the partnership on a long-term basis, supporting Kindred’s continued growth and development in the sports vertical. It confirms Kambi’s position as the leading supplier to Tier 1 operators in regulated markets.
This extension of the commercial contract will provide long-term stability for Kambi and create a very solid platform for further growth. The convertible bond is also being extended in a form agreeable to both parties and provides long-term security to both.
The commercial deal will be effective from 1 January 2018. There will be no material impact on Kambi’s expected revenues for 2018. The commercial terms underpin Kambi’s future product and business development strategy.
The convertible bond will be presented at the AGM on 31 May 2018. 29% of the total votes in the company, represented by the Board, executive management and largest shareholder Veralda Investment Ltd, have indicated their commitment to support the bond resolution.
Commenting on the agreements, Kristian Nylén, CEO of Kambi, said:
“We are delighted to continue developing the successful partnership we have had with Kindred over the last five years and look forward to further contributing to its future success. During this time, Kindred has gone from strength to strength with its Sportsbook, demonstrating the quality of the service provided by Kambi.
This contract extension is evidence of the quality, relevance and stability our scalable Sportsbook offers our customers as we continue to develop the best Sportsbook in the market.
The convertible bond is the best way to protect the supply of our service to Kindred and we are very happy to commit to it. On this basis, I fully endorse it and will support it at our AGM on 31 May.”
Kambi is a provider of premium sports betting services to licensed B2C gaming and gambling 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. Kambi is a member of WLA, EL, Cibelae and is eCOGRA and ISO 27001 certified. Kambi Group plc is listed on First North at Nasdaq Stockholm under the symbol “KAMBI”. The Company’s Certified Advisor is Redeye AB.
The information in this report was sent for publication on Tuesday, 8 May 2018 at 12:01 CET by CEO Kristian Nylén.