The value of individual shares in Maltese online wagering technologies innovator Kambi Group dropped by almost 4.16% earlier today to approximately $54.93 following news that the firm’s founder had offloaded a significant slice of his shareholding.
The Valletta-headquartered firm used an official Thursday press release to declare that the move from Anders Strom (pictured) saw 2.2% of its shareholding offloaded ‘to Swedish and international institutional investors’ courtesy of ‘an accelerated book-building process’. The Nasdaq Stockholm-listed company moreover revealed that these 675,000 stocks had come with an individual price tag of about $55.56 to earn the iGaming pioneer gross proceeds of slightly over $37.53 million.
Kambi Group explained that 50-year-old Strom, who announced late last year that he would not be seeking re-election as its non-executive chairman, had conducted the sale through his Veralda Investment Limited vehicle and now holds roughly 17.5% of its shares. It also proclaimed that this residual shareholding is to become the subject of ‘a customary lock-up’ that is to last for 90 days from the settlement date.
Read a statement from Strom…
“I am very pleased to see the overwhelming interest from both current and new shareholders wanting to invest in the growth of Kambi Group. The company has developed into a leading premium sportsbetting technology company with significant opportunities in new and existing markets. By divesting a small part of my shares in Kambi Group, I have affected an elemental reallocation within my overall portfolio of investments. I remain committed as a long-term major shareholder and intend to continue to support Kambi Group through my representation on its board of directors.”
Strom established Unibet from his London home in 1997 and subsequently led the firm, which rebranded as Kambi Group in 2016, as it became one of the planet’s largest business-to-business sportsbetting service providers and consumer-facing iGaming operators. Despite the impact of the coronavirus pandemic, the company recently saw its aggregated revenues for 2020 rise by 28% year-on-year to $142.63 million as its annual profit surged by 131.7% to $29.21 million.
Despite all of this success and Legal Sports Report nevertheless reported that Kambi Group felt the wrath of several partner operators last Sunday after its turnkey sportsbetting platform was forced to suspend pre-game betting on Super Bowl LV for a full 30 minutes. The source disclosed that this outage was caused by a failure in geolocation compliance technology supplied by an outside vendor and had impacted the American-facing online sportsbook from Penn National Gaming Incorporated, Rush Street Gaming and DraftKings Incorporated.
Kristian Nylen serves as Chief Executive Officer for Kambi Group and he reportedly pronounced that his firm was nevertheless able to permanently fix the offending problem ‘seven to eight minutes’ before the beginning of the gridiron contest from Florida and then went on to process the highest volumes in its history.
Reportedly read a statement from Nylen…
“The issue experienced prior to kick-off was related to one particular bet offer for which we increased the number of possible outcomes especially for the Super Bowl. This bet offer was the third most popular offer on the day and, due to the extended number of outcomes, required extra technical capacities as part of our bet validation process. Unfortunately, this additional capacity caused a backlog and slowed, and eventually stopped, the bet validation process for all bets.”
Hot on the heels of its cosmic release Multiplier Odyssey and leading iGaming provider and aggregator Relax Gaming has announced its partnership with newly established online casino brand SuperSeven from London-headquartered gaming operator Bet Seven Online.
Under the deal, a selection of player-favorite titles from Relax’s diverse offering of premium proprietary content, such as the action-packed sequel to the 2019 hit, Money Train 2, and other popular hits Temple Tumble and Snake Arena, will be made available to the operator’s patrons upon launch of the virtual operation in the coming months.
Also included in the agreement, SuperSeven will gain access to the provider’s broad range of aggregated content, which features titles from the likes of Australian developer ReelPlay, Swedish studio Fantasma Games, and UK-based 4ThePlayer among countless games from third-party studio partners that are available via the supplier’s Silver Bullet and Powered By Relax programs.
Chief Operating Officer for SuperSeven, Tim Parker, said…
“Through SuperSeven we will be providing players with a modern, attractive and reliable product offering that matches the high standards we uphold at Bet Seven Online, for this reason we sought out content of the same calibre.
“The agreement with Relax enables us to deliver the high-quality offering that the brand requires to make an immediate impact. We’re looking forward to seeing how this unique content will resonate with our new players.”
A privately-owned company, Bet Seven Online is responsible for SuperSeven and aims to shake up the market with its SuperPots gamification. The innovative program awards jackpots to its community of players two times a day, every day, according to the provider.
Also commenting on the new collaboration, Chief Commercial Officer for Relax Gaming, Daniel Eskola, said…
“The team at Bet Seven Online bring great experience to the table and we have no doubt that their latest enterprise, SuperSeven, will be a success.
“I’m confident that our content and that of our studio partners will deliver quality as well as variety for SuperSeven and its audience.”
The new partnership is just one in a series of international business deals that the supplier has already secured this year. It is in keeping with Relax Gaming’s challenging expansion strategy that has helped it significantly increase its client base and global presence with industry-leading operators across a range of key markets.
As mentioned, earlier this week Relax launched the high-volatility, high-impact, space-themed experience, Multiplier Odyssey, where an intergalactic battlefield sets the stage for wins up to 50,000x the bet along with a galaxy of multipliers and extra spins! The game is available on all devices and in the approved jurisdictions of the UK, Malta, Denmark, Estonia, Isle of Man, Latvia, Romania and Sweden.
In Australia and the Consolidated Press Holdings Proprietary Limited (CPHPL) vehicle of billionaire businessman James Packer has reportedly severed its boardroom ties with prominent casino operator Crown Resorts Limited.
According to a Tuesday report from the Australian Broadcasting Corporation, the investments enterprise holds a preeminent 36% stake in the casino firm although it has now nevertheless terminated the consultancy contract it held with Crown Resorts Limited non-executive director John Poynton.
The broadcaster reported that Poynton was the last remaining CPHPL appointee left on the board of Crown Resorts Limited following the Tuesday resignations of fellow non-executive directors Guy Jalland and Michael Johnston. Although the experienced businessman is to remain on the Sydney-listed casino firm’s board, the move purportedly means that its largest shareholder now effectively has no direct representation.
The Australian Broadcasting Corporation reported that CPHPL’s blow came only hours after a special inquiry being conducted by former New South Wales Supreme Court Judge Patricia Bergin had determined that the Melbourne-headquartered casino firm was currently unfit to hold a gambling license for its Crown Sydney development. This decision is purportedly now headed to the New South Wales Independent Liquor and Gaming Authority with its release having immediately sent the value of individual shares in Crown Resorts Limited down by some 9%.
Philip Crawford (pictured) leads the New South Wales Independent Liquor and Gaming Authority and he reportedly told the broadcaster in advance of yesterday’s Johnston and Jalland resignations that Crown Resorts Limited would have to ‘blow itself up to save itself.’ When subsequently informed about the departures, he purportedly proclaimed that ‘somebody is listening to us and that’s really positive’ as the moves are destined to send ‘a big message to me and the media.’
The Premier of New South Wales, Gladys Berejiklian, reportedly pronounced that the findings of the Bergin inquiry had been direct, thorough and clear and that she was now prepared to wait for specific recommendations and advice from the New South Wales Independent Liquor and Gaming Authority before proceeding further.
Berejiklian reportedly told the broadcaster…
“It’s all there in black and white and I’m sure both Crown Resorts Limited and any other organization will read that report carefully and accept what action has to occur before anybody is able to have a licence in New South Wales. Anybody who wants to operate a casino in New South Wales has to stick to the rules, has to stick to the law. The government doesn’t apologize for upholding those high standards.”
Player focused software development studio Push Gaming has added another new partner to its growing portfolio, having inked a content agreement with online casino software brand SoftSwiss.
The collaboration will see the Curaçao based iGaming company integrate directly with Push Gaming’s platform, which is licensed by the Malta Gaming Authority (MGA) and the United Kingdom’s Gambling Commission (UKGC), benefitting from the developer’s library of premium games, including its most recent release, Wheel of Wonders, along with the soon to be launched, Land of Zenith and Dinopolis.
Partner Managers Team Lead for SoftSwiss, Nikita Keino, had this to say about the new collaboration…
“We aim to provide cutting-edge technology solutions to the sector to ensure the success of any iGaming project. So being able to offer products like those from Push Gaming aligns perfectly with these values.
We have earned ourselves a name in the iGaming industry thanks to the professionalism of our team and expertise every step of the way, and this deal simply adds more of this for us. We’re really pleased to have them onboard.”
The “extensive” content deal further marks Push Gaming’s significant growth in its continuing effort to extend its reach into even more jurisdictions with more top-tier operators.
This latest partnership also sees the British supplier join in excess of 70 providers and more than 10,000 games featured in SoftSwiss’s impressive library. The deal will additionally serve to significantly boost the London-headquartered studio’s footprint across key European markets.
Also commenting on the new partnership, Head of Sales for Push Gaming, Fiona Hickey, added…
“Our core ethos is to put the player first, so we’re delighted with this deal that sees us collaborate with a brand like Softswiss which resonates with that.
We’re an entertainment company at heart and we’re sure that this partnership is going to provide the right balance of player consideration both in terms of responsibility and offering the highest level of gaming satisfaction for those that love our signature experiences.”
Over the past 12 months, Push Gaming has been shortlisted for a number of EGR and SBC Awards, establishing itself as an in-demand slot supplier in the industry and has gained a reputation for developing some of the most entertaining titles. The studio also added more than 10 tier one partnership agreements in 2020, including such industry leaders as Norsk Tripping, LeoVegas, Gamesys, William Hill, and The Rank Group, and plans to further grow its global presence this year.
Strengthening its existing partnership, Microgaming will lend its market-leading content to Maltese online casino operator Rootz Limited for its recently launched third brand, Wheelz.
The partnership between the two companies began in the summer of 2019 when the Birkirkara-headquartered firm debuted its breakout brand Wildz, which was followed in June 2020, by its second casino brand, Caxino.
“We are thrilled to extend our successful partnership with Rootz.”
Built on Rootz’s own powerful gaming platform, Wheelz will gain access to Microgaming’s expansive portfolio of premium content from the independent game studios it works with on an exclusive basis. Included in the haul are the recently launched hits Diamond King Jackpots and the Western-themed Golden Stallion from Las Vegas-based math-first studio SpinPlay Games and Stockholm-Manchester video slot games studio Northern Lights Gaming respectively.
“Microgaming has been instrumental in the success we have enjoyed with our first two online casino brands, Wildz and Caxino. Given our rapid growth, expectations are high for Wheelz, and with the support of Microgaming and its market leading content, we are confident the brand will be as successful as its sister sites,” said Rootz Limited Chief Executive Officer, Lasse Rantala.
“I’d like to thank Microgaming for the support and assistance its team has provided Rootz to date and look forward to even greater success now that Wheelz is live to players in markets around the world,” added Rantala.
The new virtual gaming experience has already launched 125 of the leading content aggregator’s games. That, together with the online casino‘s utilization of AI and automation, will help Wheelz provide an engaging, “highly-personalized” experience for players.
Also commenting on the rekindling, Head of Partnerships for Microgaming, Neil Bancroft said in a company presser…
“We are thrilled to extend our successful partnership with Rootz, an operator which has found the formula when it comes to delivering a top-rated casino experience for its players. Its state-of-the-art technology combined with Microgaming’s vast content offering makes for a winning partnership.
“Wheelz has what it takes to become a firm player favourite, and with David Hasselhoff as the face of the brand, it will do so with added glitz and a little Hollywood glamour.”
All new Feb slots:
Microgaming recently announced its February lineup of slots, which will exceed 20 new titles, including more than 10 from its top-tier content partners and 10 from its growing stable of exclusive independent studios. Just a few of the exciting new additions to its massive stable are the 20s gangster-themed Chicago Gold for PearFiction Studios, which launched on the 4th, and Juicy Joker Moolah from Just For The Win, which launched on the 9th.
In a move that further grows its footprint across Europe, Playson has entered into an agreement with Greece’s leading gametech company, Kaizen Gaming. The new partnership expands the Athens headquartered firm‘s casino portfolio, with the addition of fan-favorite titles from the online casino games software developer.
Encompassing over 17 regulated territories, the deal will see Playson’s entire gaming suite launch with the company’s well-known brands in Greece along with the other five countries it currently operates in, including Cyprus, Germany, Romania, Portugal, and Brazil, soon after.
Commenting on the agreement, RNG Casino Manager for Kaizen Gaming, Dimokratis Papadimos, said…
“At Kaizen Gaming, we are constantly working towards the sole purpose of offering an unparalleled and completely safe experience to the people who choose us for their entertainment.
“In our effort to further strengthen Kaizen Gaming’s online Casino, we have finalized an agreement with Playson, the leading company in the casino gaming industry and we are confident that our customers will embrace this new partnership, which aims to satisfy their needs, with responsible gaming as the main focus.”
The collaboration is in keeping with the Greek operator’s continuing effort to enhance its premium offering, with its integration of successful Playson titles such as Zeus: Thunder Reels, Buffalo Power: Hold and Win, and Legend of Cleopatra: Megaways.
Account Manager for Playson, Christos Zoulianitis, used a company press release to say…
“We are delighted to sign with Kaizen Gaming, a leading operator with a strong foothold in the fast-growing Greek market.
“With an impressive variety of newly-launched titles and classic hits, we have continued to go from strength to strength across Europe and Latin America and partnering with innovative operators such as Kaizen Gaming has been integral to that success.”
The deal follows Kaizen Gaming’s recent addition to its executive team, after welcoming Julio Iglesias Hernando as its new chief commercial officer in its effort to “significantly boost” the company’s commercial and CRM functions.