Connect with us

Latest News

Kambi Group plc extends partnership with Kindred Group and gains ability to prepay convertible bond

Published

on

Reading Time: 3 minutes

 

New contract continues successful partnership until 2026 while Kambi meets requirements to prepay convertible bond previously issued to Kindred

Kambi Group plc and Kindred Group have agreed a three-year extension to its sportsbook partnership after signing a new agreement up to the end of 2026. In addition to the contract, Kambi’s strong financial performance has seen it meet specific conditions required to prepay, at its own discretion, a convertible bond previously issued to a wholly owned subsidiary of Kindred.

The new agreement, which will take effect after the completion of the current contract which runs until 1 January 2024, continues the successful partnership first established in 2014 following Kindred’s decision to spin-off its sportsbook arm, Kambi, now the world’s leading sports betting technology and services provider.

As part of the spin-off, Kindred was issued a €7.5m convertible bond in Kambi, however, having satisfied certain financial performance criteria set out in the bond agreement, Kambi now has the option to prepay the full loan amount and exit the bond agreement at any time of its own discretion. Upon the prepayment of the convertible bond, Kambi will no longer be required to seek prior consent for certain events and will eliminate the prospect of Kindred converting the bond into shares, which would have given the operator a controlling influence over Kambi. This ensures Kambi and its shareholders have complete control of the company’s strategic direction.

As well as the continuation of a long and successful partnership, the contract provides security to both Kambi and Kindred throughout the extended term. The contract provides Kambi with a baseline guarantee of revenue, with Kindred committed to a minimum revenue contribution of €55m across 2024 to 2026. Meanwhile, Kindred will be guaranteed Kambi’s technology and services as it aims, over time, to leverage Kambi’s increasingly modularised offering to pursue its own platform strategy. As communicated by Kindred, from 2024 the operator seeks to reduce its reliance on Kambi and rebalance its use of proprietary and third-party products, with Kambi’s technology to remain an integral part of Kindred’s sportsbook offering.

The contract extension comes as Kambi continues to build on its market-leading differentiation capability by further modularising its technology and services to give operators greater scope to create unique sports betting experiences. In doing so, Kambi is strengthening its ability to attract and retain a select group of top-tier partners that increasingly demand a hybrid approach to technology. This approach is reflected in Kambi’s contract extension with Kindred and central to Kambi’s strategy of developing best-in-breed functionality.

Kristian Nylén, Kambi CEO and Co-founder said: “Kambi and Kindred continue to enjoy a fantastic relationship and this contract extension, which sees Kambi commit to providing Kindred with our modularised technology and services until 2026, enables this form of symbiotic partnership to further develop and best support the evolving strategies of both companies.

“The financial security and change of control protection granted by this new agreement, as well as the control we have gained over the convertible bond, place Kambi in a strong position as we enter our next chapter of global growth and take a significant step towards us becoming the key enabler for visionary operators in regulated markets across the world.”

Henrik Tjärnström, CEO Kindred Group, commented: “I’m very pleased that we have secured a continued collaboration with our long-term partner Kambi to supply us with high-quality technology and trading services for the coming five years. This agreement is an important building block in our long-term strategy to transform Kindred into a product driven company with a sustained dedication on customer experience, and we are excited to continue to work closely with Kambi to evolve the partnership.”

Powered by WPeMatico

Continue Reading
Advertisement

ADM

Peter & Sons says it now reaches 70% of Italy’s ADM-licensed operator market

Published

on

peter-&-sons-says-it-now-reaches-70%-of-italy’s-adm-licensed-operator-market

Studio cites integrations with Sisal, SNAI, PokerStars, Eurobet, Betsson Italy, Lottomatica, Goldbet and Diecimilauno via Octavian and Light & Wonder.

Peter & Sons said it has expanded its distribution in Italy and is now live with approximately 70% of the country’s leading operators under the Agenzia delle Dogane e dei Monopoli (ADM) license.

The studio attributed the milestone to operator partnerships including Sisal, SNAI, PokerStars, Eurobet, Betsson Italy, Lottomatica, and Goldbet and Diecimilauno, with distribution supported by aggregators Octavian and Light & Wonder. Peter & Sons said the network is expected to grow further.

Italy remains one of Europe’s most established regulated iGaming markets, with concentrated operator share and extensive go-live requirements. Peter & Sons said Italian players can access titles including Barbarossa Dragon Empire, Barbarossa Revenge, and Thunderhawk.

Lauryn Duncan, Head of Sales at Peter & Sons, said: “Italy has become one of our most important markets, not because it was new to us, but because of how quickly it has evolved into a key part of our distribution network. Reaching 70% of the market is a strong validation of the partnerships we’ve built with leading operators and aggregators. It’s a market that demands quality, structure, and consistency, and we’re proud to see our games resonate so well within that environment.”

The post Peter & Sons says it now reaches 70% of Italy’s ADM-licensed operator market appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Continue Reading

Blue Bird Bonus

EdgeLabs Signs Content Partnership with Stake

Published

on

edgelabs-signs-content-partnership-with-stake

EdgeLabs has signed a new content partnership with Stake that will bring more than 50 games from the EdgeLabs portfolio to the platform, including Blue Bird Bonus, Diamond 10x and Mark of Z, alongside casino-style titles such as Emily’s Treasure and Kandy Land Keno. The agreement expands EdgeLabs’ reach with a major global operator while giving Stake access to additional multilingual content and promotional tools across key markets.

In addition to its slot titles, Stake will also leverage EdgeLabs’ casino-style games, including the fish-shooting title Emily’s Treasure and keno game Kandy Land Keno, enhancing the overall player experience within its ecosystem.

Founded in 2017, Stake has rapidly become one of the world’s largest online casino and sportsbook. With a major focus on community engagement, the platform also offers a sweepstakes casino model, providing free-to-play experiences to its users.

Similarly, EdgeLabs’ team brings decades of industry experience, building a high-quality game portfolio supported across 35 languages and 95 currencies, with reach across North America, Europe and Asia. The studio focuses on optimizing partnerships through offering bespoke content, pre-release exclusives and a fully integrated suite of promotional tools.

By combining efforts, both companies aim to accelerate their respective commercial growth objectives and further establish themselves as key players for online free-to-play entertainment.

Marina Rodov, CEO of EdgeLabs, said: “We’re delighted to take our relationship with Stake to the next level. We will now be able to work closely and mutually boost our business by providing our best-in-class games, promotional tools, and account management. We are confident that with our games and Stake’s volumes, this will be a fruitful partnership for both companies.”

Caelum Ferrarese of Stake said: “We’re very excited to begin our partnership with Edgelabs. With Edgelabs’ catalogue of top-quality slots content, combined with a close, working relationship, the sky is the limit for what we can achieve together across a wide range of markets.”

The post EdgeLabs Signs Content Partnership with Stake appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Continue Reading

Australia

IGS Awarded 15-Year Electronic Gaming Machine Monitoring Licence in Victoria

Published

on

igs-awarded-15-year-electronic-gaming-machine-monitoring-licence-in-victoria

 

Bally’s Intralot S.A. (Bally’s Intralot) has announced that its Australian subsidiary, Intralot Gaming Services (IGS) has been awarded a new 15-year Electronic Gaming Machine (EGM) Monitoring Licence for the State of Victoria, effective 16 August 2027.

This landmark award positions Bally’s Intralot to deliver a new generation of technology, transparency and collaboration to one of the world’s most mature and highly regulated gaming markets.

Approximately 26,300 EGMs will be connected to the Monitoring System which will provide a vital role in ensuring the ongoing integrity of EGM transactions in gaming venues. It will also provide data and information on EGMs for regulatory, harm minimisation, taxation and research purposes.

Under the licence, IGS will also be responsible for the delivery, operation and maintenance of the statewide Pre-commitment System for all EGMs in Victoria, including 2628 EGMs at the Melbourne casino.

A New Technology Era for Victoria

IGS will deploy a next-generation, cloud-enabled monitoring platform designed to deliver:

• Real-time monitoring and reporting

• Advanced data analytics capabilities

• Best-in-class cybersecurity protections

• Scalable architecture to support evolving regulatory requirements

• Future-ready integration enabling seamless connectivity with venues, manufacturers and regulatory systems

“This award represents a major milestone for Bally’s Intralot and IGS and is a significant investment in the future of Victoria’s gaming technology infrastructure. We look forward to working with the Victorian Government, the Victorian Gambling and Casino Control Commission, and industry stakeholders to deliver a secure and transparent monitoring system that supports integrity and player protection,” said Robeson Reeves, CEO of the Bally’s Intralot Group.

IGS and Bally’s Intralot will commence planning and stakeholder engagement in the coming months to support a carefully managed, smooth and seamless transition.

The post IGS Awarded 15-Year Electronic Gaming Machine Monitoring Licence in Victoria appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Continue Reading

Trending

Get it on Google Play

Fresh slot games releases by the top brands of the industry. We provide you with the latest news straight from the entertainment industries.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Recent Slot Releases is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania