Kambi Group, an established player in the Swedish gambling industry, has obtained a new five-year license in the Swedish market. As a listed company on the Nasdaq First North Growth Market in Stockholm, Kambi aims to leverage this B2B gambling permit to further expand its operations in Sweden. This new license is a result of the recently passed gambling bill, which mandates gambling suppliers to acquire permits to serve licensed operators in Sweden. The move aims to combat the black market and enhance channelization. With the announcement made by the Swedish Gambling Authority (Spelinspektionen), the new permits will come into effect from July 1, 2023.
Growing Presence in Sweden:
Building on its existing operations in Sweden, Kambi Group’s acquisition of the five-year license demonstrates the company’s commitment to expanding its footprint in one of its most important markets. With a strong presence and heritage in Sweden, Kambi is well-positioned to capitalize on the new license, enabling the company to continue offering its B2B sportsbook services in compliance with the regulatory framework.
Strategic Partnerships:
Kambi has recently forged significant long-term partnerships, positioning the company for growth and innovation in the industry. The partnership with Bally’s Corporation is expected to enhance the development of Bally’s online and retail sportsbooks through Kambi’s sportsbook solution. This collaboration allows both companies to leverage their strengths and capitalize on the growing demand for sports betting in various markets. Additionally, Kambi has extended its partnership with Paf, a testament to the successful and enduring collaboration that began in 2011. These partnerships showcase Kambi’s ability to establish and maintain mutually beneficial relationships in the industry.
On-Property Sportsbook Partnership:
Kambi Group has also secured an on-property sportsbook partnership with WarHorse Gaming, a division of Ho-Chunk. The sportsbook at WarHorse Casino Lincoln provides patrons with access to a wide range of gambling options, including 400 slots and live thoroughbred racing. This partnership reinforces Kambi’s commitment to delivering high-quality sports betting experiences in diverse gaming environments, catering to the preferences of different customer segments.
Upholding Compliance and Regulatory Standards:
Kambi Group prides itself on maintaining the highest standards of compliance and regulatory requirements, which have been integral to its success as a leading B2B sportsbook provider. The acquisition of the necessary B2B gambling permits for Sweden further demonstrates Kambi’s commitment to operating within a regulated framework. By prioritizing compliance, Kambi not only ensures the integrity and fairness of its operations but also strengthens its reputation as a trusted partner for licensed operators.
Kambi Group’s acquisition of a new five-year license in the Swedish market positions the company for continued growth and success. With a strong presence in Sweden and adherence to regulatory standards, Kambi is well-equipped to expand its operations and provide innovative B2B sportsbook solutions to licensed operators. The company’s strategic partnerships with industry leaders such as Bally’s Corporation and Paf further enhance its market position and growth potential. By securing an on-property sportsbook partnership with WarHorse Gaming, Kambi continues to diversify its offerings and cater to the evolving needs of the gambling market. With a strong commitment to compliance and regulatory excellence, Kambi Group solidifies its position as a leading player in the global B2B sportsbook industry.