Issuing a corporate update, Stockholm-listed sports betting platform and systems provider Kambi Group Plc has disclosed that it has ‘temporarily suspended’ its contract with Bulgarian operator National Lottery AD.
Kambi’s action is undertaken, following National Lottery AD’s ‘voluntary decision’ to hand back its operating licence to Bulgaria’s State Gambling Commission (BGC).
Since 2017, Kambi has served as lead sportsbook supplier to National Lottery AD’s flagship online domain 7777.bg, a partnership which would be extended in 2019 servicing the operator’s Moldovan profile.
In its statement, Kambi informs that it has served formal notice to National Lottery AD management and has begun restricting player wagers on 7777.bg sportsbook platform.
Kambi’s suspension of service follows Bulgarian news reports that state police had arrested National Lottery AD owner and chairman Vasil Bojkov in connection to political bribery and tax evasion.
Bojkov who is recognised as Bulgaria’s richest man has challenged the Bulgarian government’s gambling reforms that have seen all lottery products nationalised under the remit of state-owned Bulgarian Sports Totalisator (BST).
Kambi governance has chosen not to comment on Bulgarian market developments but informed investors that it’s temporary 7777.bg suspension would have a ‘small negative impact’ on 2020 corporate revenues.