Stockholm listed sports betting solutions provider Kambi Group has announced that it has finalized an agreement with Swedish horse racing operator AB Trav och Galopp (ATG) in terms of which it will provide the latter with a multi-channel sportsbook and accompanying services.
The multi-year agreement follows an aggressive tender process, and is scheduled to commence operations once the Swedish market is liberalized at the beginning of next year. The deal enables+ ATG to have the capability to enhance its horse racing product with a complete sports betting offer for the very first time.
Confirmation of the new deal follows the announcement by Kambi last month that the two companies were in the process of final stage commercial discussions.
According to Kambi, it believes that the addition of its premium Sportsbook to ATG’s popular horse racing and trotting product will present a market-leading experience to ATG’s deep-rooted customer base.
Kristian Nylen, Chief Executive Officer at Kambi, commented that the firm is looking forward to forming a strong relationship with the horse racing operator.
Nylen went on to say that since launching in 1974, ATG has become a leading brand within its home market of Sweden and is a company which has, over time, built a vast and loyal customer base. He added that Kambi is proud to have been chosen as ATG’s multi-channel Sportsbook provider and they look forward to forming a strong partnership.
Despite the fact that the new agreement will not have any impact on Kambi’s 2018 revenues and the deal is expected to only have a moderate effect on income next year, it is one which will grow in future years.
