Unibet to Share KambiPublished April 19, 2014 by OCR Editor
Kambi's sports betting operations will soon be received by a wider market.
The Swedish stock exchange will be awaiting a new stock this June as online gaming operator Unibet is on the verge of distributing their 95% stake in B2B subsidiary Kambi Sports Solutions to its shareholders. On May 20th in Stockholm, Sweden at the Unibet annual general meeting, the operator will submit the proposition. Although the deal cannot be confirmed until after the shareholders approve it, Kambi is expected to be listed on the NASDAQ OMX in June 2014.
This basically means that Unibet will not hold any shares in the business after the ties are cut, but it will work out well for both companies. Not even the Swedish tax payers will feel the tax burn as the deal is to be under the "Lex Asea" provisions which protect the Swedes from any immediate tax increases.
"The proposal to distribute Kambi to Unibet shareholders is the logical conclusion of the separation process that has been developed over the last couple of years," related Henrik Tjarnstrom, chief executive officer of Unibet.
Unibet has been focused on its own business providing award winning customer relationship management while Kambi has quietly become one of the leading online sports betting services.
Tjarnstrom went on to say, "While Kambi has an excellent offering, its opportunity to maximize the value of those services is limited while it is under the ownership of Unibet. Separation will make it easier for Kambi to access wider markets."