Kambi Group plc, the leading global sports betting supplier, has signed an agreement to provide its premium technology and services to a newly developed sports betting brand in Latin America backed by an experienced private equity firm.

The multi-year partnership will see Kambi support the launch of Olimpo.bet, an online sportsbook owned by NG Gaming, which is a recent addition to one of the leading corporate groups in Latin America.

The Olimpo.bet brand aims to operate in the Latin American region, initially targeting Peru due to its growing market, and will further strengthen Kambi's position in a region where it already has an established presence in Colombia and Argentina.

Kristian Nylén, CEO and Co-founder, Kambi, said: "This is an important strategic partnership for Kambi as we continue to expand our footprint in Latin America's growing sports betting market.

"The ambition shown by NG Gaming to be among the leaders in sports betting matches our own, and we are excited at the prospect of Olimpo.bet going live in time for the Copa América."

An NG Gaming spokesperson said: "We are delighted to partner with Kambi to launch our new disruptive brand. It quickly became clear Kambi was the only partner we could trust to support us with our ambitious time-to-market strategy and future expansion across the South American continent.

“Furthermore, Kambi’s flexible technology, alongside its proven risk management and price differentiation capabilities, will give Olimpo.bet a platform on which to outcompete the market."