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.”
Only one week after launching its Cat Wilde in the Eclipse of the Sun God video slot and Swedish online casino games developer Play‘n GO has now returned to announce the debut of its five-reel and ten-payline Thunder Screech innovation.
The Vaxjo-headquartered firm used an official press release to pronounce that the new three-row video slot features a mythological theme ‘based on a legend found in several Native American cultures’ of the Thunderbird alongside ‘stunning visuals’ and solid mechanics so as to make it a game aficionados ‘will want to play again.’
Play‘n GO explained that the mobile-friendly Thunder Screech follows its Coywolf Cash title from last year in exploiting a Native American theme and offers online casino competitors the chance to walk away with rewards worth as much as 5,000 times their initial stake. The developer detailed that the game also comes complete with the Strike Respins bonus feature where all wild symbols are transformed into Thunder Wilds to remain on sticky on a grid so long as they are attached to a multiplier.
Martin Zettergren serves as the Chief Product Officer for Play‘n GO and he used the press release to proclaim that his firm is ‘notorious’ for its ‘mythological slots’ such as the Legacy of Egypt, Book of Dead, Ring of Odin and Viking Runecraft games themed around the ancient cultures of Egypt and Scandinavia. He moreover declared that such ‘unique ideas and narratives’ are an integral aspect of developing a popular title as is ensuring that gameplay ‘backs up the packaging.’
Read a statement from Zettergren…
“It’s important to give players new ideas and stories to explore while they’re playing. It’s also vital that the game itself is still good enough to keep them interested. Many games may be wrapped in a nice theme and have some fun artwork but then there’s nothing to hold the players’ interest when it comes to gameplay. So, while early numbers might be good, there’s a sharp decline as people play once and then move onto something else. We create games for people to enjoy over and over again.”
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Swedish online casino games developer Play‘n GO has announced that its family of Wilde-themed video slots now contains another title following this week’s launch of its new Cat Wilde in the Eclipse of the Sun God game.
The Vaxjo-headquartered firm used an official Thursday press release to declare that the fictitious character of Rich Wilde already serves as ‘the face of several top-performing games’ from its portfolio of video slots. The company detailed that it decisively expanded this colorful family last year via the invention of the swashbuckling adventurer’s daughter, Cat, and the subsequent release of its Cat Wilde and the Doom of Dead as well as its Cat Wilde and the Lost Chapter innovations.
Play‘n GO stated that the new five-reel and 20-payline Cat Wilde in the Eclipse of the Sun God video slot is ‘a must-have addition for any online casino library’ thanks to ‘the allure of the Wilde intellectual property’ in addition to ‘some incredibly great in-game potential’. The developer proclaimed that the mobile-friendly game takes aficionados to rural Mexico where they can work with the plucky heroine ‘to uncover the legend of the eclipse and the Aztec Sun God’.
Martin Zettergren, Chief Product Officer for Play‘n GO, used the press release to describe the three-row Cat Wilde in the Eclipse of the Sun God as ‘a cascading video slot featuring a cascade multiplier’ that will increase the value of wins and possibly allow competitors in its free spins bonus game to take away rewards worth up to 70 times the triggering stake.
Read a statement from Zettergren…
“There are so many games fighting for players’ attention in today’s market that it can be challenging for games to attract an audience and for operators to keep their players with them. When players find a game that they love, they will tend to revisit it but they want an assurance that they’ll be getting a good experience when looking for something new. People know the Wilde series of games are fun and entertaining. They know what they’re getting in a new instalment and that inspires trust and loyalty.”
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In Sweden and the Spelinspektionen regulator has reportedly criticized iGaming operators after finding that some are still failing to adequately display sufficient information on responsible gambling.
According to a report from iGamingBusiness.com, the watchdog’s rebuke follows the completion of an investigation into whether Sweden-licensed online casino and sportsbetting domains are doing enough when it comes to responsible gambling. The source detailed that the authority ultimately ruled in the negative and urged sites to begin providing even more information on gambling-related harm as well as better links to the Scandinavian country’s Spelpaus self-exclusion tool.
Although the regulator reportedly explained that some improvements had occurred since the completion of its previous responsible gambling examination in 2019, it nevertheless bemoaned several shortcomings. It purportedly pronounced that these had included an often total lack on the part of operators to display information concerning the specific risks of online wagering in addition to explicit examples of some negative consequences.
Spelinspektionen reportedly moreover disparaged still other sites for not displaying adequate biographical information such as the duration of their licenses and not providing contact details including telephone numbers and e-mail addresses. The regulator purportedly furthermore complained about some domains had even failed to identify the body as both the licensing and supervisory authority for iGaming in Sweden.
The authority reportedly finished its examination by reminding licensed operators that it is their own responsibility to ensure complete compliance and that continued shortcomings would result in regulatory action. It also purportedly emphasized the importance of responsible gambling features such as the Spelpaus self-exclusion tool and urged domains to immediately begin meeting its full range of consumer protection measures.