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

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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.

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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.”

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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.”

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FC Bayern and Betano Sign Partnership Agreement

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Premium Online Sports Betting and Gaming Brand Betano Joins Forces with Football Giant FC Bayern in a Landmark Three-Year Agreement

FC Bayern, the 34-time champions of Germany and six-time champions of Europe, has entered a three-year partnership with Betano, the leading international online sports betting and gaming brand owned by Kaizen Gaming. This strategic alliance designates Betano as an Official Partner of FC Bayern starting from the 2025-26 season and extending until the 2027-28 season.

Michael Diederich, FC Bayern Executive Vice Chairman commented: “We are delighted to have Betano as a new Official Partner of FC Bayern. Betano stands out as a global market leader in its field – highly innovative and always pushing forward – qualities that we hold in high regard and also claim for ourselves. With Betano at our side we have gained another reliable partner to help us reach our growth objectives and continue to strengthen our innovative edge”.

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George Daskalakis, Kaizen Gaming CEO, stated: “Today marks an exciting new chapter for Kaizen Gaming and Betano, as we proudly join forces with FC Bayern. When we first set out on our journey, we could only dream of partnering with one of the most iconic clubs in world football. They stand at the top of the game and this partnership reflects just how far we have come as a company, with Betano now recognized among the top online gaming and betting brands worldwide”.

Julio Iglesias, Kaizen Gaming Chief Commercial Officer added: “Germany has always been one of the most important markets for us, the second where Betano ever launched. Now, we are announcing our biggest partnership in the country and we double down on our commitment to creating innovative, safe and responsible gaming experiences for German fans. Of course, FC Bayern exceeds the borders of Germany, with millions of fans across the world. As Betano expands its international footprint, this partnership empowers us to connect with people globally”.

The post FC Bayern and Betano Sign Partnership Agreement appeared first on European Gaming Industry News.

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Uncover Ancient Riches in Ra’s Relics Bonanza™ from Booming Games

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Step into the golden sands of Ancient Egypt with Ra’s Relics Bonanza, a thrilling 6×5 cascading slot adventure from Booming Games!

Land 8 or more matching symbols anywhere on the reels to secure a win, as winning symbols vanish and new ones tumble down, unlocking endless chances for treasure. Keep an eye on the Divine Scarab, collecting scatter symbols throughout the base game and triggering Free Spins at any moment.

Land 4 or more scatters to unlock 10 Free Spins, where special multiplier symbols, ranging from 2x to 100x, can boost your rewards to legendary proportions! Want to dive straight into the action? Use the Buy Bonus feature and unleash the power of Ra instantly for 100x your bet. With electrifying features and ancient riches waiting to be discovered, Ra’s Relics Bonanza is your gateway to the ultimate Egyptian prizes!

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Craig Asling, Director of Games at Booming Games, said Ra’s Relics Bonanza transports players to the heart of Ancient Egypt with thrilling cascading wins, powerful multipliers, and immersive gameplay. We’re excited to offer a game that blends rich visuals with high-volatility action for an unforgettable slot experience.”

The post Uncover Ancient Riches in Ra’s Relics Bonanza™ from Booming Games appeared first on European Gaming Industry News.

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Elantil sets new company record with super-fast AvatarUX integration

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Pioneering platform solutions provider smashes previous personal best by adding award-winning slot developer to the Elantil Marketplace in well under two hours 

They say lightning never strikes, but Elantil continues to prove this old adage wrong by completing even speedier integrations in its online marketplace – and this month’s addition of AvatarUX Studios has smashed the company’s previous record of two hours!

An award-winning slot developer famed for its visually-striking content and unique products, AvatarUX Studios is widely known in the iGaming industry for its innovative proprietary mechanics, including the popular PopWinsTM, as well as many other engaging features like ZapReelTM and Fortune Arrows.

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Following this important strategic partnership, AvatarUX Studios’ acclaimed portfolio of content has now been added to Elantil’s Marketplace, giving the company’s customers an even wider range of gaming options to choose from – and all at cost-effective rates with terms they set themselves.

As Elantil merely facilitates the quick and easy pairing of operators with their preferred content suppliers, businesses are free to reach out to Marketplace partners directly and form their own agreements, with Elantil then wrapping things up by providing a hassle-free, one-click integration, with no revenue sharing.

In this way, operators can scale at pace and dynamically enhance the range of services they provide, while also staying in full control of their platforms and operating the way that works best for them.

John Debono, Chief Technical Officer at Elantil, said: “As speed is so often the name of the game in this industry, we’re incredibly proud to have smashed our personal best by integrating AvatarUX Studios in under two hours. With the developer’s acclaimed range of titles and award-winning mechanics now available to partners, they’ll be able to enjoy the full benefit even faster!”

Lara Falzon, CEO at AvatarUX Studios, said: “Having blazed a path in the industry with our proprietary mechanics and innovative features, we’re delighted to be able to offer our content to new operators via Elantil’s Marketplace – and the fact we completed our integration in a matter of hours shows just how quickly we’ll be able to transform their line-ups for the better.”

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The post Elantil sets new company record with super-fast AvatarUX integration appeared first on European Gaming Industry News.

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