Subject to approval of a new term of the convertible bond between the two parties at Kambi Group’s forthcoming AGM, Kindred Group intends signing an extension to its sport betting contract with Kambi Group.
The commercial agreement signed between the parties is due to be effective from 1st January 2018 and will extend the partnership on a long-term basis with Kambi Group continuing to power sportsbook operated by Kindred.
The agreement will also see revised terms being included for the convertible bond between Kambi Group and Kindred Group.
Kristian Nylen, Chief Executive Officer at Kambi Group, commented that they are delighted to continue developing the successful partnership they have had with Kindred Group over the last five years and eagerly look forward to further contributing to its future success.
Nylen added that during this time, Kindred has gone from strength to strength with its Sportsbook, demonstrating the quality of the service provided by Kambi. He also said that the contract extension is evidence of the quality, relevance and stability that their scalable sportsbook offers their customers as they continue to develop the best Sportsbook in the market.
The Chief Executive of Kindred Group, Henrik Tjarnstrom, added that with the extension of Kindred Group’s strategic relationship with Kambi, he is confident that they will be able to continue to build on their strong positive momentum and continue to take market share.