A new licence was required after a gambling bill was passed in Sweden, in a bid to reduce the size of the black market.
Kambi Group has gained a new five-year licence in the Swedish market.
Kambi already operates in Sweden and is listed on the Nasdaq First North Growth Market in Stockholm. With this new B2B gambling permit, Kambi will hope to continue to grow its operations in Sweden with this new licence.
Kambi has gained this new licence on the back of a new gambling bill that was passed last year, which required gambling suppliers to obtain new permits to service licenced operators in Sweden; in an effort to reduce the size of the black market and improve channelisation.
The permits were announced by Swedish Gambling Authority (Spelinspektionen) and will be effective from 1 July 2023.
This year,
Kambi signed a long-term partnership with Bally’s Corporation
. With this new partnership, Kambi will provide its sportsbook to assist in the development and enhancement of Bally’s online and retail sportsbooks.
Kambi also signed another long-term partnership with Paf
. Paf is one of Kambi’s longest-serving partnerships, having first started working together in 2011.
Kambi Group also has signed an on-property sportsbook partnership with WarHorse Gaming,
a division of Ho-Chunk. Kambi’s sportsbook at WarHorse Casino Lincoln includes 400 slots along with simulcast and live thoroughbred racing.
David Carter, Chief Legal Officer at Kambi, said: “We are pleased to have obtained the necessary B2B gambling permits for Sweden which, given Kambi’s heritage, has long been one of our most important markets.
“This further showcases our commitment to upholding the utmost standards of compliance and regulatory requirements which is a cornerstone of Kambi’s success as the world’s leading B2B sportsbook.”