Kambi expands into Argentina with Casino Magic online sportsbook deal

Stockholm-listed sports betting technology provider Kambi Group has expanded its presence in Latin America through a new partnership with Argentinean casino operator Casino Magic.

The multi-year agreement will see Kambi provide its technology and services to support the launch of Casino Magic’s online sportsbook in Neuquén province, in accordance with Argentina's provincial sports betting regulations.

The Casino Magic sportsbook is expected to go live in Neuquén during the first quarter of 2021, complementing the operator's existing online casino offering.

“We are delighted to have finalised this agreement with Casino Magic and in doing so strengthened the Kambi network,” said Kambi CEO Kristian Nylén. “It is a partnership with real promise as we aim to realise the potential of regulated sports betting in Argentina.

“Kambi's ability to efficiently pivot our technology to satisfy the compliance requirements within any regulated market is evident, and we are very excited at the prospect of leveraging this to deliver fantastic sports betting experiences to Casino Magic's players in Neuquén and continue our expansion in Latin America.”

Casino Magic general manager Eduardo Nanton added: "Kambi has established itself as the clear sportsbook of choice in regulated markets in Latin America and across the world, so we are pleased to have agreed this long-term partnership.

“Their commitment to bringing exciting experiences to players matches our own, and we look forward to working with them as we progress our ambitious plans for the Casino Magic brand.”

Shares in Kambi Group plc. (STO:KAMBI) were trading 2.94 per cent lower at SEK469.00 per share in Stockholm Friday morning.