Kambi Group plc signs extended contract terms with Bulgaria’s National Lottery JSC
17 April 2019
Kambi Group plc signs extended contract terms with Bulgaria’s National Lottery JSC
New agreement includes provision to supply Moldovan National Lottery with online and retail sportsbook
Kambi Group plc will power the international sports betting expansion of Bulgaria’s National Lottery JSC after the two companies today strengthened their partnership by signing an extended sportsbook agreement.
The new deal will see Kambi continue to provide its Sportsbook and managed services to the National Lottery JSC’s 7777.bg brand in Bulgaria and in addition, support the operator’s planned entry into Moldova this summer.
National Lottery JSC, a member of the World Lottery Association, was recently selected by Moldova's Public Property Agency to run both its national lottery product and a brand new online and retail sportsbook, as part of a public-private partnership.
Sports betting is currently prohibited in Moldova, however, at the end of 2016, the country passed legislation to regulate the activity under a monopoly framework. After a tender, National Lottery JSC has the right to operate in Moldova for 15 years.
Kambi will support National Lottery JSC by providing its multi-channel Sportsbook product, with plans to go live online in the next few months, followed by a retail rollout where the Kambi Sportsbook will be available to players in local stores and soon-to-be developed sports betting shops.
Following the launch of the Kambi Sportsbook in Bulgaria at the start of 2018, National Lottery JSC has experienced rapid growth in the market, with the 7777.bg brand already among the country’s top three online sportsbooks.
This success, combined with the Moldovan lottery tender win, convinced National Lottery JSC and Kambi to extend their partnership for the long-term. The new contract replaces the initial deal signed by the pair in July 2017.
Kristian Nylén, CEO of Kambi, said: “Kambi’s track record of springboarding partners to the next level of their sportsbook journey is unrivalled, and in National Lottery JSC we have yet another example of how operators can grow using our Sportsbook.
“For the 7777.bg brand to be among the market leaders in Bulgaria within 18 months of partnership is testament to the quality of the Kambi Sportsbook, as well as the National Lottery’s marketing expertise.
“I’m delighted we’ve agreed to take the partnership to Moldova, where I’m confident players will enjoy our exciting sports betting experiences in both the online and retail environments.”
Milen Ganev, Managing Partner of National Lottery JSC commented: “When replacing our previous sports betting supplier with Kambi, we did so with the goal of becoming a market leader in Bulgaria, a position we’ve achieved well ahead of time.
“This triumph, coupled with Kambi’s scalable technology, gives us the freedom to expand into new markets, beginning with Moldova and the Moldovan National Lottery monopoly later this year. Therefore we decided to extend our contract with Kambi, enabling us to enter the next chapter of our exciting growth story with confidence.”
For further information, please contact:
Mia Nordlander
Head of Investor Relations
Mobile: +44 (0)7850 910 933
About Kambi
Kambi is a provider of premium sports betting services to licensed B2C gaming operators. Kambi Group plc is listed on First North at Nasdaq Stockholm. Our services encompass a broad offering from front-end user interface through to odds compiling, customer intelligence and risk management, built on an in-house developed software platform. Kambi’s 20-plus customers include 888 Holdings, ATG, DraftKings, Greenwood Gaming & Entertainment, Kindred Group, LeoVegas, Mohegan Gaming & Entertainment and Rush Street Interactive. Kambi employs more than 700 staff across offices in Malta (headquarters), Romania, the UK, Philippines, Sweden, Australia and the United States.
Kambi utilises a best of breed security approach, and is ISO 27001and eCOGRA certified. Kambi Group plc is listed on First North at Nasdaq Stockholm under the symbol "KAMBI". The Company's Certified Advisor is Redeye AB.
About National Lottery JSC
The National Lottery brand is the largest licensed gambling operator in Bulgaria. It is one of the fastest growing businesses and one of the most innovative in Central and Eastern Europe. The company is a private legal entity, established in 2012. The National Lottery enjoys 98% brand awareness which makes it one of the most recognised brands in Bulgaria. The National Lottery JSC is proud of its team, it consists of highly qualified and motivated specialists with extensive background in marketing, sales, logistics and IT. At present, it has more than 18,000 POS for instant tickets and more than 1,500 POS for Draw Based Games.
The information in this report was sent for publication on 17 April 2019 at 16:45 CET by CEO Kristian Nylén.
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