Kambi Group initiates strategic virtual sports investment

Kambi has announced an enhancement of its sportsbook platform, via a strategic investment in gaming start up Virtus Sports.

The deal, concluded for £500,000 (€565,000), sees Kambi take a stake of just over 25% in the firm, with the investment paid in net cash, which as of December 31 of last year stood at €26.9m.

Under the terms of the agreement, Kambi will be enabled to offer “a high-quality and complementary virtual sports betting product” to a growing customer base.

Andrea Brecevich, Virtus Games’ Founder and CEO, 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.”

Virtus Sports, a privately held firm founded in 2014 and with offices located within Malta and the UK, delivers betting opportunities across a wide range of virtual sports, including football, horseracing, greyhounds and motor sport.  

As part of the new agreement Kambi is to integrate the 3D virtual product into its Sportsbook platform, thus enabling them to be utilised by its network of operators.

The fully customisable games, developed for both online and retail channels, allow operators to incorporate their own branding, modify game content and adjust pay out margins.

It is believed the addition of the Virtus Sports portfolio will not only compliment current offerings, but will provide customers with further opportunities to engage with players.

Kristian Nylen, Chief Executive of Kambi, 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.”

Check Also

Betsson H1 results disrupted by tough regulatory dynamics

Nordic market adjustments and Dutch declines have seen Betsson AB governance report a 5% year-on-year …

Irish government calls for increase to greyhound welfare funds

The Irish Cabinet has called for the greyhound industry to boost its welfare spending after …

Paddy Power launches ‘Save Our Shirt’ campaign alongside ‘real Huddersfield kit’

Paddy Power have announced it’s controversial ‘sash’ style Huddersfield Town kit was just a hoax, …