Unibet set for Kambi sell-off
Swedish operator to distribute 95% stake in sports betting supplier to Unibet shareholders in June
Unibet has announced it is to dispose of its 95% stake in Kambi Sports Solutions as the Swedish operator looks to finalise its financial separation from the B2B supplier.
The Stockholm-listed company is to propose at its Annual General Meeting (AGM) on 24 May that its entire portion of shares in Kambi be distributed to Unibet shareholders the following month.
If the move to spin-off Kambi is approved, the operator will cease to have any stake in the London-based supplier which will list its shares on the Stockholm NASDAQ OMX First North exchange in June.
In recent years, Kambi has built a client base which includes the likes of multi-vertical operators such as Unibet, 888, Paf and Interwetten.
However, eGaming Review understands that Kambi’s ties to Unibet had on occasions proven to be an obstacle in it obtaining additional partners.
Kambi last month announced it had signed a deal with Cambodia-based casino NagaWorld Hotel & Entertainment while the company also plans to target national lottery operators as it looks to diversify its client base.
According to Unibet CEO Henrik Tjärnström, the decision to separate was the “logical conclusion” to the process of spinning the sports betting provider into a separate entity in 2010.
“In that period, Unibet has focused its business on excellence in customer relationship management, while Kambi has been able to concentrate on development of its market-leading sports betting services,” he said.
“While Kambi has an excellent offering, its opportunity to maximise the value of those services is limited while it is under the ownership of Unibet. Separation will make it easier for Kambi to access wider markets,” Tjärnström added.
Read our interview with Kambi CCO Ian Freeman here