Kambi secures Australian sportsbook supply deal21st January 2021 10:46 am GMT
Stockholm-listed Kambi Group has signed a long-term agreement to provide its retail and online sports betting technology to Racing and Wagering Western Australia (RWWA).
The partnership will see RWWA leverage Kambi's technology to upgrade its current sportsbook offering across its 320 retail outlets, as well as its online brand TABtouch.
The Kambi sportsbook will complement RWWA's existing racing wagering product, which is set to be brought in-house in 2021.
“This is an important strategic partnership for Kambi,” said Kambi CEO Kristian Nylén. “RWWA has achieved excellent recent growth, and we are very pleased that they view Kambi's high-performance sports betting technology as central in pushing that to the next level.
“The agreement underlines Kambi's ability to configure our technology to meet the needs of any operator and regulated market, and we are excited to play a crucial role in driving RWWA's online and retail success.”
Established in 2003, RWWA is the state-run, self-funded racing authority for Western Australia, responsible for the operations of the state's Totalisator Agency Board (TAB). RWWA distributes the profits gained through its wagering business to support the growth and competitiveness of the state's racing industry.
“We are delighted to have partnered with Kambi to build on our reach across our online and retail sectors,” said RWWA chief executive Ian Edwards. “Kambi’s track record as a springboard for growth is evident, and their flexibility and power under the hood marked them out as an ideal partner.
“As the organisation which funds the state's racing industry, RWWA is focused on maximising its profits through the Western Australian TAB in the long-term interests of the industry, and we believe this partnership will help drive greater results.”
Shares in Kambi Group AB (STO:KAMBI) climbed 3.38 per cent to SEK470.60 per share in Stockholm Thursday morning.