Stockholm-listed sports betting solutions provider Kambi Group will power the launch of a new sportsbook for Swedish horse racing operator AB Trav och Galopp (ATG).
The multi-channel, multi-year agreement comes into force next year with the liberalisation of the Swedish gambling market, which will see online operators licensed to compete with current gambling monopoly holders ATG and Svenska Spel for the first time.
The re-regulation will see ATG lose its horse racing monopoly while allowing it to expand its offering into sports betting and gaming.
The company selected Kambi to power its sportsbook following a competitive tender process, with the supplier's activity in regulated markets, technology and success with other clients helping to secure the contract.
"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," Kambi chief executive Kristian Nylen said.
"So as the operator prepares for its next phase of growth in a re-regulated Swedish market, Kambi is proud to have been chosen as ATG's multi-channel sportsbook provider and we look forward to forming a strong partnership."
The Kambi contract is the latest step in ATG's preparations for the new market. It has already agreed to acquire Danish online betting and gaming operator Ecosys, as well as signing a live dealer casino agreement with Evolution Gaming Group.
Shares in Kambi Group plc (STO:KAMBI) were trading down 1.32 per cent at SEK179.20 per share in Stockholm Thursday morning, having set a new 52-week high of SEK189.00 per share on Monday (July 2nd).