Sweden’s racing monopoly ATG adding Kambi sportsbook

Sports betting technology supplier Kambi PLC says it’s close to inking a sportsbook deal with Sweden’s horse racing monopoly ATG.

On Tuesday, Kambi announced that it was in “final stage commercial discussions” with AB Trav Och Galopp (ATG) to offer a sports betting product to ATG’s horseracing customers. Kambi said it chose to update the market due to ATG being close to commencing internal product testing, and thus the secret was about to leak anyway.

Kambi is coming off a record performance in the first quarter of 2018 but the company isn’t resting on its laurels. Last month, Kambi inked its first US-facing prospective sports betting partnership with Rush Street Interactive, the online division of US casino operator Rush Street Gaming.

ATG claimed an 18% share of Sweden’s overall gambling market in 2017, during which total turnover was up 2.8% to SEK13.65b (US$1.56b), while net revenue improved by 3% to SEK4.2b. ATG’s customer ranks grew 5% year-on-year to over half a million.