Kambi Group plc has made a strategic investment in gaming startup Virtus Sports, an agreement which will enable Kambi to offer a high-quality virtual sports product to its growing customer base.The deal has seen Kambi take just over a 25% stake in Virtus Sports, with the £500,000 (€565,000) investment paid in full from Kambi’s net cash, which as of December 31, 2017 was €26.9 million.
Founded in 2014 and with offices in Malta and the U.K., privately-held Virtus Sports delivers betting opportunities across a wide range of virtual sports, including football, horse racing, greyhounds and motor sport.
As part of its investment, Kambi will integrate Virtus Sports’ 3D virtual sports product into the Kambi Sportsbook platform, in turn making it available to Kambi’s network of operators.
Kambi believes Virtus Sports’ high-quality virtual sports portfolio will complement its current offering and provide its customers with further opportunities to engage with players.
Developed for online and retail channels, the games are fully customizable so operators can, among other options, incorporate their own branding, modify game content and adjust pay out margins.
“Despite being in its early stages of development, Virtus Sports has shown an ability to produce high-quality and engaging virtual sports games,” said Kambi Chief Executive Kristian Nylen.
“Through this investment, not only will Kambi close a product gap by integrating the games into the Kambi Sportsbook, but we will also support Virtus Sports’ ongoing product development and sales to the wider market,” he added.
“We are delighted the management team at Kambi has recognized the potential of the Virtus Sports’ business and the high-quality production of our games,” said Virtus Games Founder and CEO Andrea Brecevich.
“We are very excited about our games being made available to the Kambi network and look forward to releasing additional sports and other product enhancements very soon,” Brecevich added.
In related news, Kambi has signed a deal with Casumo to deliver a gamified sports betting product. Founded in 2012, Malta-headquartered Casumo is one of the fastest growing brands in the industry, operating in major markets, such as the U.K. and Sweden.
This rapid growth has been built on Casumo’s incorporation of social gaming features, such as player achievements and leaderboards, into real-money games to create entertaining gaming experiences.
As part of the multi-year deal, Kambi will provide its Sportsbook and technology services, including open APIs, to Casumo to build a sports betting experience with gamification at its core.
The new sports product will primarily target casual bettors and the millions of sports fans who have never placed a bet, with a focus on offering players fun and playful betting opportunities.