![]() ![]() ![]() The contract provides Kambi with a baseline guarantee of revenue, with Kindred committed to a minimum revenue contribution of €55m across 2024 to 2026. This ensures Kambi and its shareholders have complete control of the company’s strategic direction.Īs well as the continuation of a long and successful partnership, the contract provides security to both Kambi and Kindred throughout the extended term. ![]() Upon the prepayment of the convertible bond, Kambi will no longer be required to seek prior consent for certain events and will eliminate the prospect of Kindred converting the bond into shares, which would have given the operator a controlling influence over Kambi. The new agreement, which will take effect after the completion of the current contract which runs until 1 January 2024, continues the successful partnership first established in 2014 following Kindred’s decision to spin-off its sportsbook arm, Kambi, now the world’s leading sports betting technology and services provider.Īs part of the spin-off, Kindred was issued a €7.5m convertible bond in Kambi, however, having satisfied certain financial performance criteria set out in the bond agreement, Kambi now has the option to prepay the full loan amount and exit the bond agreement at any time of its own discretion. In addition to the contract, Kambi’s strong financial performance has seen it meet specific conditions required to prepay, at its own discretion, a convertible bond previously issued to a wholly owned subsidiary of Kindred. Kambi Group plc and Kindred Group have agreed a three-year extension to its sportsbook partnership after signing a new agreement up to the end of 2026. ![]()
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