Kambi obtains regulatory approval for Ontario launch
Kambi Group has obtained regulatory approval for launch in Ontario, Canada.
The approval, from the Alcohol and Gaming Commission of Ontario (AGCO), enables Kambi to launch with partners from day one of the Ontario online market opening.
“The registration allows Kambi to provide its leading sportsbook technology and services to operator partners when the market launches next month – including its unparalleled ice hockey product and expansive Bet Builder capability,” a statement from the group read.
The company received confirmation of its registration as a Gaming-Related Supplier effective 4 April 2022, the date when regulated online single-event wagering will launch in Ontario, Canada’s most populous province.
“I am delighted that Kambi has become one of the first sportsbook providers to obtain registration from the AGCO,” said Kambi CEO and Co-Founder Kristian Nylén.
“This landmark achievement is a testament to Kambi’s expertise and exemplary track record in compliance, and we are excited to be in a position to deliver our market-leading sportsbook technology to our partners’ customers in Ontario from day one.”
Nylén last month exercised all of his 22,500 share options from the 2018 programme, increasing his shareholding in the group from 720,000 to 742,500 shares.
Also last month, the company reported its financial results for the fourth quarter of 2021, with revenue amounting to €34.9m ($39.7m), a 26% decline from the prior-year period. Operating profit for the period was €7.1m, at a margin of 20.2%, with profit after tax amounting to €6.1m.
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