Investigation of Kambi's Manila operation
Kambi Philippines Inc, a subsidiary of Kambi Group plc (the “Group”), has an office based in Manila. This operation provides back office functions for the Group's online B2B sportsbook service. Similar to other betting operations based in the Philippines, Kambi Philippines Inc has been served with notice today that it is the subject of an investigation by the Philippines National Bureau of Investigation into allegations relating to the carrying out of illegal gambling activities in the Philippines.
With regards to these allegations, Kambi is confident that there are no activities occurring in its Philippines operation which are contrary to law. In the Philippines, Kambi is a member of the Government-run PEZA scheme (Philippine Economic Zone Authority), which incentivises businesses, on a fully transparent basis, to establish and run operations in the Philippines. Kambi complies with local laws and applies consistent global policies for its Group operations to abide by. Kambi has immediately implemented business continuity measures in accordance with its internal Group policies to ensure cover for the services provided by its Manila operation. Kambi will update the market as necessary regarding the investigation.
Kambi Group plc is a B2B supplier of fully managed sports betting services on an in-house developed software platform, providing premium turnkey sports betting solutions to B2C operators. Kambi’s solution encompasses a broad offering from front end through to odds compiling and risk management. Kambi employs approximately 380 staff across offices in Malta, London, Stockholm and Manila. The company’s current coverage includes more than 110,000 live betting events and 250,000 pre-match events per year covering 65 different sports from all over the world. Kambi’s customers include Unibet, 888, Paf, 32Red and Napoleon Games. Kambi utilizes a best of breed security approach, with guiding principles from ISO 27001. Kambi Sports Solutions is an eCOGRA certified. Kambi Group plc is listed on NASDAQ OMX First North Stockholm under the symbol "KAMBI". Kambi's Certified Advisor on First North at Nasdaq Stockholm is Redeye AB.
The information in this report/press release is such that Kami Group Plc is required to disclose under the Swedish Securities Market Act. The information was disclosed on [date and time].