Kambi close to ATG deal ahead of Sweden regulation
Supplier to provide its sportsbook tech to horseracing monopoly operator with product testing to commence soon
Kambi is close to an agreement with Sweden’s monopoly horseracing betting operator, ATG, to provide its sports betting platform.
The monopoly operator will be able to offer wider sports betting and casino products once the Swedish market opens in January 2019.
According to a Kambi statement, the two companies are in the final stages of commercial discussions and ATG will soon commence internal product testing,
“The potential partnership comes as Sweden prepares to introduce a new regulatory framework, one which will enable ATG to complement its horse racing product with a full sports betting offer for the first time,” the statement said.
Following the announcement, Kambi’s share price was up 24% on the previous week with shares trading at SEK 144.8.
Sweden’s online gambling regulator (Lotteriinspektionen) will start accepting licence applications from August 2018, after the country’s parliament approved the legislation this week.
The regulator also plans to roll-out the countries national self-exclusion scheme by November 2018 and has issued a public tender for the development of the technology.