LeoVegas Expands into Sports with Kambi Deal
Published January 30, 2016 by Lee R
Both companies have enjoyed a run of recent success, and are focused on mobile gaming solutions next.
A new sports betting product is coming from Leo Vegas as the result of its latest partnership.
The New Deal
The Malta-licensed gaming operator's new product will be launched as a result of the new partnership forged with Sweden's Kambi Group.
Leading B2B provider Kambi’s fully managed sportsbook will be integrated into Leo Vegas’ proprietary platforms so that Vegas players will now move seamlessly on the Leo Vegas platform between core casino games and the new sports betting interface.
This is Leo Vegas' first step in its own global expansion:
According to Leo Vegas chief executive and co-founder Gustaf Hagman, “Leo Vegas mobile gaming group´s success to date has been based on a passion for...genuine mobile first focus, further clarifying that the new deal with Kambi can enable Leo Vegas to take the leading mobile leadership position in sports betting and customer experience.
The Mobile Imperative
Hagman says his company tabbed Kambi as the partner to match the company's high ambition to “drive the sports betting experience in the mobile era,”
Kambi chief executive Kristian Nylén said the deal would accelerate the growth of its sportsbook as well, and said his company found an affinity with Leo Vegas on the basis of the mutual interest of the companies in driving innovation in mobile sports betting.
Reaction
The immediate reaction on the Stockholm market was positive, as shares in Kambi Group were up 11.65 per cent at SEK115.00 per share in Stockholm this morning following the announcement.
About Kambi
The addition will be in place by the end of Q1, continuing a business surge for Kambi following its spinoff from parent company Unibet in 2014. Kambi, which still maintains Unibet as a client, along with 32Red and 888 Holdings, reported revenue up 35% and profits up threefold in its Q3 earnings report. This new deal will only pad incoming figures.
About Leo Vegas
Leo Vegas is on quite a run as well, Just this week, the company was named Operator of the Year at Thursday’s inaugural eGaming Review Nordics Awards in Malta, while picking up more hardware in the Casino Operator and Mobile Operator categories.
This deal looks to not only keep the momentum of both companies, but increase it substantially as well.
