Kambi invests £500k in virtual sports start-up

Kambi has acquired a 25% stake in 3D virtual sports start-up, Virtus Sports, for £500k.

As part of its investment, the supplier will integrate Virtus Sports’ 3D virtual sports product into the Kambi Sportsbook platform, making it available to Kambi’s network of operators.

The €565k investment was paid in full from Kambi’s net cash, which stood at €26.9m as of 31 December 2017.

Founded in 2014, Virtus Sports offers a wide range of sports including football, horseracing and greyhound racing and has offices in Malta and the UK.

The virtual games can be fully customised across online and retail so operators can incorporate their own branding, modify game content and adjust pay-out margins.

Kambi CEO 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 said: “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,” he added.