Major B2B supplier of sports betting services Kambi Group announced today it has decided to extend its sportsbook contract with leading sports betting operator 888sport. The terms of the new contract agreement will see the Malta-based sports betting services supplier extending its high-end sportsbook and software platform for 888sports to use for a multi-year period.
Under the terms of the agreement, Kambi will be recognised as the supplier of 888 Holding’s sports betting offering and would support the further expansion and growth of the well-known operator across the sports vertical. The deal’s extension will also consolidate Kambi’s reputation of being one of the leading sports betting services suppliers for a number of world-class operators in the regulated markets across Europe, Latin America, and Asia.
The partnership between the two companies was formed back in 2013 and has so far proved to be extremely productive for both parties involved. The joint success of Kambi and 888 Holdings is further substantiated by the fact the operator’s sports division has grown more than five times since 888sports partnered with the Malta-based supplier. Since 888 Holdings is among the key customers of Kambi Group, the partnership extension will also see a steady multi-year flow of revenue to the accounts of the sports betting solutions provider.
The leading sports betting supplier announced in a press release that the new commercial terms of the extended contract will cause an initial drop in revenue for Kambi. The company’s accounts would thin out with approximately €1 million after the new commercial terms of its agreement with 888 Holdings come into effect.
Members of the Kambi Group’s governance, however, are confident that this would be a temporary phenomenon as the new contract terms along with the premium quality of their sports betting platform would ensure financial security for both companies.
Kristian Nylen, Chief Executive Officer of Kambi Group, commented on the contract extension, saying the two companies have enjoyed a very fruitful partnership throughout the course of the last four years and Kambi is to continue contributing to 888 Holdings’ growth in the future.
Nylen explained that the 888 brand has been enjoying a substantial increase in the revenue it has generated from its sports betting offering for the past four years. According to the Chief Executive, this only goes to confirm the world-class quality of Kambi’s sports betting platform. The said platform offers Tier 1 sports betting operators tools for odds compiling, risk management, and customer intelligence as well a bespoke front-end user interface.
The confirmation of the partnership extension with 888 Holdings coincides with the release of Kambi’s financial results for the second quarter of 2017. The company reported a 3% increase in revenue and has amassed profits of €14.1 million for this period.
- Author
Olivia Cole
