Stockholm-listed betting software provider Kambi Group Plc has today confirmed that it has successfully renegotiated its lead platform partnership with Kindred Group Plc.
The agreed long-term contract extension will be put before shareholders at Kambi’s forthcoming Annual General Meeting (Stockholm on 31 May), including revised terms for a convertible bond between the two enterprises.
The parties renewed contract agreement is set to become effective on 1 January 2018, as Kambi maintains its longest-running lead platform partnership with Kindred Group and its subsidiary sports betting verticals.
This Q1 2018, Kambi successfully delivered the ‘Stan James player migration project’ for Kindred flagship brand Unibet – completing a key 2018 initiative for the online gambling group.
Kristian Nylén, Kambi Group CEO, commented: “We are delighted to continue developing the successful partnership we have had with Kindred over the last five years and look forward to further contributing to its future success.
“During this time, Kindred has gone from strength to strength with its Sportsbook, demonstrating the quality of the service provided by Kambi.
“This contract extension is evidence of the quality, relevance and stability our scalable Sportsbook offers our customers as we continue to develop the best Sportsbook in the market.”
Should the contract extension receive shareholder approval, Kambi will have extended contracts with five of its largest customers within the last 12 months, securing key sources of revenues for the foreseeable future.
Backing Kambi as platform supplier, Henrik Tjärnström – Kindred Group CEO – stated: “With the extension of Kindred Group’s strategic relationship with Kambi, I am confident that we will be able to continue to build on our strong positive momentum and continue to take market share.”