The leading provider of iGaming and sports betting solutions and technology, Kambi Group plc, announced it secured permits for an important European gambling market. The announcement came Monday and sees the company secure business-to-business gambling permits for its services and sports betting technology from the gambling regulator in Sweden, Spelinspektionen, also known as the Swedish Gambling Authority.
The recent permits effectively allow Kambi to continue to supply its leading services and technology for operators within the regulated gambling market in the country. The announcement comes ahead of planned changes to the regulatory gambling framework in Sweden that seek to boost channelization to regulated operators.
The changes come into effect starting from July 1 this year. Kambi’s new licenses will be applicable for five years, starting from the same date the new framework comes into effect. This enables the company to continue to provide its leading solutions and services and expand further its already strong position within the regulated gambling market in the country.
“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.“
David Carter, chief legal officer at Kambi Group
David Carter, Kambi’s chief legal officer, shared his excitement about the recent announcement. He pointed out that the company is delighted to secure B2B permits in Sweden, which will be necessary in light of the upcoming regulatory changes.
Carter spoke about the importance of the Swedish market for the company, explaining that it has established a presence in the country. Finally, Kambi’s chief legal officer pointed out: “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.”
Gambling Regulator Awards Multiple Permits and Licenses
Currently, Kambi has a presence in more than 50 different regulated gambling markets around the globe. The company, which is listed on Nasdaq in Stockholm, Sweden, reported that 94% of its 2022 revenue came from markets that are locally regulated. Now, in light of the permits, Kambi can grow further its presence in the region.
The company isn’t the only one to secure licenses in Sweden recently. Earlier this month, Abios, the Swedish esports data provider, confirmed it secured a B2B license in the country for the provision of esports data.
Before that, earlier this month, LeoVegas was another company that secured a B2B license in Sweden. This marked an important step for the company that will be able to expand in a market that is notorious for its tough regulations within the gambling vertical. At the same time, the license provides a boost for LeoVegas’ European-facing growth and expansion.