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.”
American land-based casino operator Bally’s Corporation has announced that it has bought prominent online free-play games and software developer SportCaller for an undisclosed amount.
The Providence-headquartered firm used an official press release to detail that the acquisition is destined to complement its pending takeover of daily fantasy sports provider Monkey Knife Fight as well as its recent purchase of digital technology and services enterprise Bet.Works Corporation and help it to further expand its iGaming presence around the world.
Previously known as Twin River Worldwide Holdings Incorporated until undergoing a name-change late last year, the Rhode Island-based company proclaimed that procuring SportCaller will moreover allow it to premiere its own range of free-play games later in the year and utilize its long-term strategic partnership with Sinclair Broadcast Group Incorporated to distribute these ‘in states that currently do not permit sportsbetting.’
George Papanier serves as President and Chief Executive Officer for Bally’s Corporation and he used the press release to explain that SportCaller and its player database are to become a part of his firm’s new Bally’s Interactive division. As such and he declared that this entity will be able to utilize free-play games ‘as an additional player engagement and retention tool’ while expanding the attractiveness of its mobile-friendly sportsbetting app ‘beyond national borders.’
Read a statement from Papanier…
“I am delighted to welcome SportCaller to Bally’s Interactive alongside Bet.Works Corporation and Monkey Knife Fight. Free-play products represent a core component of our interactive strategy to drive user acquisition to our ecosystem. SportCaller offers unique products and I am confident that its pioneering platform and deep international expertise will significantly contribute to our growing interactive platforms.”
For his part and Cillian Barry, Managing Director for SportCaller, pronounced that his Dublin-headquartered firm’s portfolio of over 100 free-play and jackpot games offered in some 20 languages were already being utilized by ‘some of the largest betting and media companies as a key customer acquisition and retention tool’. He furthermore stated that his team will now work with Bally’s Corporation towards improving the ‘development resources’ of Bet.Works Corporation while simultaneously supporting the ‘accelerated innovation and deployment of new products.’
Barry’s statement read…
“Joining Bally’s Corporation is a milestone moment for the SportCaller team. I look forward to working with the talented team at Bally’s Corporation as we continue to create innovative free-play products that engage sports fans on a global scale.”
igamingsportcallercillian barrytwin river worldwide holdings incorporatedgeorge papanierbally’s corporationbally’s interactivemonkey knife fightbet.works corporationsinclair broadcast group incorporated
Millions of gridiron football fans around the world will undoubtedly be tuning in tomorrow night to watch all of the action as the Tampa Bay Buccaneers go up against the Kansas City Chiefs in Super Bowl LV.
Although most online sportsbooks are offering a plethora of markets on almost every aspect of this National Football League (NFL) championship contest, some others are reportedly opting for more unique routes with proposition wagers on markets as wacky as the length of the pre-game national anthem alongside an over/under on how many television advertisements broadcast during the match will feature a dog.
These were just two of the 17 more unique proposition bets highlighted by the news domain at Insider.com on Wednesday as American football fans prepare to watch the ‘Chiefs’ and the ‘Bucs’ battle it out at the latter’s Raymond James Stadium. Other less traditional wagers purportedly involve whether anthem singer Eric Church will be wearing a leather jacket, the color of the headband being sported by star quarterback Patrick Mahomes (pictured) and if the broadcast will have any commercials for a Star Wars film.
The singing of the national anthem seems to be a popular focus as the source also reportedly found sites offering odds on who will sing the last note of the tune penned by Francis Scott Key and whether any of the scoring drives from Sunday night will take less time to complete. There are purportedly also even more bizarre bets on which coach’s nostrils will be the first to feature in the broadcast, will the spread or total of the game be mentioned and how many times NFL Commissioner Roger Goodell will be shown.
American broadcasts of Super Bowl LV are reportedly due to be fronted by NFL analysts Jim Nantz and Tony Romo with sportsbetting aficionados reportedly furthermore able to find odds on whether this latter expert will correctly predict one of the game’s offensive plays. Markets on what color liquid will be poured on the winning coach and what is to be the first song performed by half-time entertainer The Weeknd are likewise purportedly available as are bets on the shade of the Canadian singer’s jacket and whether he will be sporting gloves or head bandages.