32Red extends Kambi sportsbook deal
Two firms put pen to paper on new agreement which runs until end of 2019
32Red has extended its partnership with sportsbook supplier Kambi for a further two-and-a-half years, the two firms announced this morning.
The new agreement replaces the original three-year deal, which had been due to expire in April 2017, and will see the pair continue their relationship until at least December 2019.
32Red CEO Ed Ware said he was keen to build on the partnership having originally launched the Kambi sportsbook in May 2014.
“During the past two years, Kambi has been an invaluable driver for our growth in sports betting by contributing its experience and knowledge and with the creation of a premium sportsbook,” Ware said.
“As we continue to accelerate our marketing budget we remain excited about the future growth possibilities the market is offering us,” he added.
Although 32Red has yet to strip out its sportsbook revenues, in 2015 the operator reported ‘other products’ had seen revenues rise 42% year-on-year to ?2.4m – the bulk of which is thought to be derived from the Kambi product.
The contract extension marks yet another piece of positive news for Kambi with the supplier having recently signed up a trio of new clients in the shape of LeoVegas, Mr Green and Rank.
“We have truly enjoyed working with 32Red during the last two years and we are delighted the operator has decided to further extend its contract long-term,” Kristian Nyl?n, Kambi Group CEO, said.
“32Red is planning to invest more in marketing its sportsbook and we see a lot of potential as we look forward to continue contributing to its success in a joint collaboration,” he added.