Stockholm-listed sports betting solutions provider Kambi has extended its contract with Bulgaria’s National Lottery JSC to support the operator’s planned entry into Moldova later this year.
National Lottery was recently selected by Moldova's Public Property Agency to run both its national lottery product and a new online and retail sportsbook, as part of a public-private partnership.
Kambi has been providing its sportsbook and managed services to National Lottery JSC’s 7777.bg brand in Bulgaria for the past 18 months, and will now also power the operator’s launch in Moldova.
The supplier will provide 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.
“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,” said Kambi CEO Kristian Nylén. “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.
National Lottery JSC managing partner Milen Ganev added: “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. We therefore decided to extend our contract with Kambi, enabling us to enter the next chapter of our exciting growth story with confidence.”
Shares in Kambi AB (STO:KAMBI) were trading down 0.67 per cent at SEK163.70 per share in Stockholm Thursday morning.