New Bookmaker from Svenska Spel and Kambi: A Step Forward in World Betting

Svenska Spel Sport & Casino, one of Sweden's leading gambling operators, together with Kambi, a renowned sports betting solutions provider, have announced the launch of a new bookmaker. This became possible thanks to an agreement signed between the companies in October last year. For several months, both companies have been actively working on the development and integration of a new betting platform with a view to introducing it by early summer.

Svenska Spel hopes that this joint venture will significantly diversify the user experience and attract more customers, especially in the run-up to major football tournaments such as the Euro and the America's Cup. Svenska Spel Sport & Casino Product Manager Jonas Nygren expressed his joy at the launch:

“It’s great to be able to offer our customers a new competitive bookmaker. Customers receive an enhanced gaming experience along with a wider range of markets and services under our Oddset brand. And to be live on air in time for the big football party this summer is especially nice.”

The launch of the new bookmaker comes amid disappointing first-quarter financial results for Svenska Spel. The group's operating profit decreased by a noticeable 49%, which the company attributed to a number of additional costs. Svenska Spel hopes that the new betting platform will help compensate for these losses and improve financial performance in the second half of the year.

Kambi, like Svenska Spel, faced some financial difficulties in the first quarter, recording a slight decline in revenue of 1.8% compared to the same period last year. However, Kambi continues to grow rapidly and recently entered into a partnership with Mohegan in Pennsylvania, demonstrating the company's commitment to expanding its market power.

Erik Løgdberg, Managing Director of Kambi, commented on the new joint venture:

“We are very pleased with our launch together with Svenska Spel Sport & Casino, one of Sweden’s most renowned gaming and entertainment brands.”

The launch of a new bookmaker from Svenska Spel and Kambi is an important step in the development of both companies. This partnership promises to improve the gaming experience for users and strengthen the companies' position in the market. With the financial challenges facing both companies, the new venture could be key to achieving sustainable growth and future success.