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Simon Deloit April 30, 2019 2 min read
Kambi and William Hill to Work on Sports Betting in Sweden
- Kambi strikes new partnership with William Hill for Sweden
- William Hill to rebrand Redbet.se into WilliamHill.se
- MRG deal yet to be finalized
Amid soaring first quarter results, Kambi has struck a new partnership to power William Hill’s sports betting platform in the newly-regulated Swedish market.
Kambi’s Financial Performance Grows
Kambi’s financial performance soared in the first quarter of 2019, with the company announcing the results on Wednesday, April 24 and revealing over $22 million in revenue. Ended on March 31, the quarter was a 28% year-over-year increase in the company’s performance.
In terms of profit, the company did it even better, marking 30% year-over-year uptick in the overall performance. Kambi admitted that regulatory and taxation challenges have taken a bite out of their results, but overall things are looking up.
Kambi has been doing well in terms of expansion, pushing not only in Sweden, thanks to a freshly regulated market as of January 1, 2019, but also in the United States which is currently expanding the states to support legal iGaming and sports betting. Q1 was also important in terms of strategical partnerships and results:
- Kambi’s clients hit 46% from sports betting on the 2019 Super Bowl
- Mohegan Gaming & Entertainment (MGE) signed an expansion deal with Kambi
- Rhinoceros Operation and Kambi began work on Mybet’s German betting shop
With Pennsylvania drawing closer to a full-scale launch in July, Kambi stands to benefit even more from a new 12-million market.
William Hill Adds Kambi as Sports Betting Partner in Sweden
Kambi has just agreed to another important deal with William Hill. The company will support the UK-based sports betting agency’s efforts in Sweden. Using Evoke Gaming’s license, William Hill will be stepping up its efforts in the market.
This includes a future rebranding of Evoke’s Redbet.se to WilliamHill.se. Evoke is a subsidiary to MRG, for which William Hill agreed to pay nearly $300 million back in February, 2019. The deal is yet to be finalized, but William Hill is already eyeing Sweden with interest.
Simon is a freelance writer who specializes in gambling news and has been an author in the poker/casino scene for 10+ years. He brings valuable knowledge to the team and a different perspective, especially as a casual casino player.
Business April 30, 2019
Business April 30, 2019