Kambi signs long-term deal with LMG Gaming
Kambi Group has agreed to a long-term partnership with LMG Gaming (LMGG), which is owned by Puerto Rican media company Liberman Media Group.
The deal will see the supplier provide its sportsbook to LMGG’s ApuestaPR betting brand, and will enable ApuestaPR to position itself as “the most exciting sports wagering brand in Puerto Rico.”
This will be attempted through a combination of Kambi’s sportsbook technology and services and marketing opportunities on LMG’s Teleonce television network.
“Partnering with LMG Gaming is an exciting opportunity, as they are on a mission to create the most engaging sports betting product in Puerto Rico,” said Kambi CEO and Co-Founder Kristian Nylén.
“By leveraging Kambi’s enhanced empowerment and marketing tools, alongside its popular Teleonce brand, LMG Gaming will be able to reach its target audience and drive player engagement through a bespoke betting experience.”
As noted by Kambi, in addition to mobile sports betting, ApuestaPR aims to offer a retail sportsbook solution through a large network of retail outlets across Puerto Rico.
LMG Gaming Partner Winter Horton commented: “We are very pleased to be partnering with Kambi for our ApuestaPR sports betting business in Puerto Rico.
“After extensive research the choice was clear, Kambi is by far the best-in-class sportsbook in the industry and we are honoured to build our business in Puerto Rico with them.
“With our top-rated Teleonce television network providing unlimited marketing and our key retail relationships, we are very confident that ApuestaPR will be the number one sports betting platform in Puerto Rico.”
Last month, Kambi saw an 11% fall in its Q3 revenue, reporting total revenue of €36.7m ($36.7m) for the quarter.
Operating profit fell considerably to €3.9m, with cash flow also down as the provider cited a traditionally “challenging” period for sports betting, given the “quiet” sporting calendar – especially in Europe and the US.
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