Another Big Name Added to Kambi’s Portfolio as Svenska Spel Signs Long-Term Deal
Author:
Muhammad Gregory
One of the most credible and reputable gambling solutions providers in the world, Kambi, has recently announced a multifaceted deal with one of the biggest Swedish gambling operators, Svenska Spel. This long-term deal is expected to bolster the operator’s sportsbook segments across both verticals – online and retail. Apart from the sportsbook segment, the multi-channel deal will also enable one of Kambi’s brands, Shape Games, to improve the front end of the new and improved sportsbook.
Kambi and Svenska Spel have partnered to upgrade sportsbook.
?Oscar van Gend/Unsplash
Kambi is one of the most trusted gambling solutions providers in the global gambling market, as it has been in the industry for over two decades and has consistently focused on expansion by entering multiple regulated gambling jurisdictions across Europe and other continents. The constant provision of state-of-the-art and user-friendly gambling solutions to iGaming, sports betting, and retail gambling operators has made Kambi a reliable name and a viable solution in the global market. The entire operations and taxation process is also simple for Kambi since it is based in the regulated jurisdiction of Malta – a nation where all gambling companies benefit thanks to the taxation laws. Malta’s taxation system has been declared compliant with the Organisation for Economic Co-operation and Development (OECD) standards and is in line with main European directives, which allow gaming companies to retain a high portion of their profits. All these aspects have helped nurture Kambi’s organic growth in the market. To date, the company has provided solutions to over 40 different gambling operators on all six continents.
The growth was steady and turned exponential in 2015 when in-play revenues eclipsed the pre-match revenues for the first time. The financial performance has been quite impressive over the years and is expected to grow rampantly in the upcoming years. Last year, the Malta-based solutions provider set two records – recording an all-time-high revenue and securing a record-high number of new partner signings. Several multi-year extensions were signed in 2022 with partners like ATG, LeoVegas, Great Canadian Entertainment, and more. Apart from Europe, Kambi has also focused on the promising North American and LATAM gambling markets. The Malta-based solutions provider struck a deal with Rei do Pitaco, which is the biggest fantasy sports operator in Brazil, in 2022. Meanwhile, more extensions were completed with Corredor Empresarial and Parx, while a new deal was struck with Oaklawn Racing Casino Resort in Arkansas, United States. Last year ended with Kambi winning the Sportsbook Supplier of the Year award at the Global Gamblin Awards in Las Vegas.
In addition to innovation and partnerships, Kambi has also looked at mergers and acquisitions. The strategic acquisition of front-end specialist Shape Games strengthened both companies. Now, Kambi goes to the table with a much stronger proposition, including top-notch solutions for the front-end of online and retail gambling powered by its subsidiary. The latest operator that has been impressed by this offer is Svenska Spel. Sweden switched from a gambling monopoly to a license-based gambling market in 2019. Till 2019, Svenska Spel held the monopoly for all forms of legal gambling. Hence, the operator is the most popular gaming and betting brand in the Nordic nation. However, it has to match the pace of the market because new operators are entering the jurisdiction with better products, and users will not hesitate to switch. In order to retain its customers and improve their experience, the Swedish operator has tied up with Kambi. The Maltese company will upgrade Svenska Spel’s sportsbook and ensure compliance with European standards.
Once the upgrade is complete, Shape Games will come into the picture to power the front end of the new sportsbook product, offering a wide range of operator empowerment tools like price differentiation and more. As the process commences, it is expected to make a financial impact in the second half of next year. Svenska Spel has been in the Swedish market for over 25 years and has built a solid customer base across the online and retail segments. The operator has 5,000 retail outlets across the entire country. Customer acquisition and retention will be the primary objective once the upgraded sportsbook is accessible to the masses.
The Co-Founder and CEO of Kambi, Kristian Nylén, acknowledged the magnitude of Svenska Spel’s presence and expressed his thoughts on the multi-channel partnership.
“Svenska Spel is widely recognized as one of Sweden’s most prestigious brands, and given Kambi’s strong Swedish roots, I am proud that we have been selected as the operator’s long-term sportsbook provider. As we continue to build commercial momentum and execute our long-term strategy, this partnership is a significant milestone for the business and will enable Kambi to further strengthen its position in one of our core markets.”
Kambi Also Struck a Similar Deal in the Netherlands
A few days after confirming the multifaceted deal with Svenska Spel, Kambi confirmed another sportsbook partnership with an up-and-coming online casino brand, 711. The operator is based in the Netherlands and holds a valid license that was issued by the Dutch Gambling Authority, Kansspelautoriteit (KSA). 711 is one of the fastest-growing online casinos in the nation, and now the operator is looking for a bigger upgrade to attract more users. Kambi will provide the operator with its sports betting platform with Bet Builder and a range of AI-powered trading products to achieve that goal.
The Dutch operator commenced its online casino operation last year and has grown immensely since then. Now introducing a different segment in its operation, 711 will need to ask the KSA for an extension of its existing license. The KSA granted 711 with an online casino license last year. However, the Dutch operator will need that specific permit to offer sports betting. Attaining it after the partnership with Kambi will not be a task due to the Maltese solution provider’s reputation in the market. Once the sportsbook is officially launched, 711 intends to leverage existing brand sponsorship deals with a few local club football teams.
Two More Key Deals Were Announced Earlier This Year
A major spike is expected in the annual revenue of Kambi this year because of all the new deals that have been signed. As the company expands across the European gambling market, it has not taken its eyes off the other continents. Earlier this year, two important deals were announced at the end of the first and second quarters. In March, Kambi entered a partnership with del Lago Resort & Casino in Waterloo, New York. The operator already ran a casino and was looking for an on-site sportsbook solution. Kambi is helping the Churchill Downs Incorporated-owned casino with a sportsbook that will join the casino gaming floor soon.
At the end of the second quarter in June this year, Kambi and WarHorse Gaming signed a strategic partnership deal for a sportsbook solution. Based and operating in the regulated region of Nebraska, WarHorse Gaming is set to launch the state’s first sportsbook once it is ready. It will be an on-site sportsbook that will be launched at the WarHorse Casino in Lincoln. The operator is set to launch another casino in Omaha next year. The involvement of Kambi has certainly boosted the brand value of WarHorse Gaming, and its services are expected to attract many users.
