Kambi suspends Bulgarian National Lottery contract after licence hand-in
Sportsbook supplier ceases all Bulgaria-facing operations amid investigation into key client
Kambi has temporarily suspended its Bulgaria-facing sports betting service after National Lottery AD returned its licence to the Bulgarian State Gaming Commission.
A message on the Kambi-powered 7777 sports betting subsidiary site said: “As of 06.03.2020, the acceptance of bets for online games on the site 7777.bg is suspended.
“In connection with the impoundments by the National Revenue Agency on the bank accounts of National Lottery AD, as of February 28, 2020, the acceptance of deposits for participation in online games on the site 7777.bg was suspended.
“The funds available on the client’s gaming account may be requested for withdrawal in compliance with the terms and conditions set out.”
National Lottery AD is one of the largest gambling operators in Bulgaria, having a 92% share of the native lottery market as well as 25,000 points of sale across the country.
National Lottery AD owner Nove Holding has been the subject of a high-profile investigation since January into the conduct of its owner, Bulgarian businessman Vassil Bozhkov.
Nove Holding owns several of Bulgaria’s largest bookmakers and lottery operators including National Lottery AD.
Bulgarian prosecutors have levelled seven charges against Bozhkov including attempted bribery and leading an organised crime group involved in money laundering. He is currently in the United Arab Emirates pending extradition back to Bulgaria.
The formal reason for the suspension was not disclosed by Kambi.
No date has been agreed to resume operations and Kambi has said that it expects a “small negative” impact on its 2020 revenue as a result of the suspension.
In addition, all live casino and online casino operations have likewise been suspended.
Under the terms of the contract, first agreed in 2017, Kambi supplies its sportsbook to the 7777.bg brand, with National Lottery AD being the sole licence holder.
In May, Kambi agreed a deal to provide its sportsbook brand to the National Lottery as it expanded its operations into the neighbouring Moldavian market.