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Kambi Group Plc, a B2B provider of sports betting services to licensed B2C gaming operators acceded an agreement with Virtus Sports, a company focusing on sports betting and virtual sports.The deal will earmark Kambi to offer a high-quality virtual sports product to its growing customer base.
The deal has seen Kambi take just over a 25% stake in Virtus Sports, with the £500,000 (€565,000) investment paid in full from Kambi’s net cash, which as of 31 December 2017 was €26.9m.
Having had its inception in 2014, with offices in Malta and the UK, privately-held Virtus Sports delivers betting opportunities across a wide assortment of virtual sports, including football, horseracing, greyhounds, and motorsport. As part of its investment, Kambi will integrate Virtus Sports’ 3D virtual sports product into the Kambi Sportsbook platform, in turn making it available to Kambi’s network of operators.
Kambi believes Virtus Sports’ high-quality virtual sports portfolio will complement its current offering and provide its customers with further opportunities to engage with players. Developed for online and retail channels, the games are fully customisable so operators can, among other options, incorporate their own branding, modify game content and adjust payout margins.
Kambi Chief Executive, Kristian Nylen, said: “Despite being in its early stages of development, Virtus Sports has shown an ability to produce high-quality and engaging virtual sports games.”
“Through this investment, not only will Kambi close a product gap by integrating the games into the Kambi Sportsbook, but we will also support Virtus Sports’ ongoing product development and sales to the wider market,” he added.
Virtus Games Founder and CEO, Andrea Brecevich, commented: “We are delighted the management team at Kambi has recognised the potential of the Virtus Sports’ business and the high-quality production of our games.
“We are very excited about our games being made available to the Kambi network and look forward to releasing additional sports and other product enhancements very soon,” Brecevich added.
Source: European Gaming Media and Events