Kambi Group plc, a provider of sports betting technology and services, has reached an agreement with a freshly created sports betting brand in Latin America backed by an experienced private equity group to deliver its premium technology and services.
Kambi will support the launch of Olimpo.bet, an online sportsbook owned by NG Gaming, a recent addition to one of Latin America’s major business groups, as part of the multi-year agreement.
The Olimpo.bet brand will initially focus on the fast-growing Peruvian gaming sector, bolstering Kambi’s position in a region where it already has a presence in Colombia and Argentina.
Kristian Nylén, CEO and Co-Founder of Kambi, said: “This is an important strategic partnership for Kambi as we continue to expand our footprint in Latin America’s growing sports betting market.
“The ambition shown by NG Gaming to be among the leaders in sports betting matches our own, and we are excited at the prospect of Olimpo.bet going live in time for the Copa América.”
An NG Gaming spokesperson said: “We are delighted to partner with Kambi to launch our new disruptive brand. It quickly became clear Kambi was the only partner we could trust to support us with our ambitious time-to-market strategy and future expansion across the South American continent.
“Furthermore, Kambi’s flexible technology, alongside its proven risk management and price differentiation capabilities, will give Olimpo.bet a platform on which to outcompete the market.”