Kambi Expands Latin American Sports Betting Presence Through Exclusive Deal in Argentina
Posted on: August 10, 2022, 07:38h.
Last updated on: August 10, 2022, 03:38h.
Sportsbook provider Kambi has signed a multi-year agreement with gaming platform Ondiss, expanding that firm to more Argentine provinces. It’s a particularly lucrative partnership for Kambi, including exclusivity for its sports betting operations.
The agreement means that the company’s sportsbook will be used by Betwarrior, Casino Magic, and Casino Club exclusively in Argentina, according to a Kambi press release. There is also the potential to add more gaming operators that are part of Ondiss’ network in the country.
Kambi operates in three provinces but plans to expand to seven more in the coming months. That would cover almost 50% of the country’s 23 provinces.
The multi-channel partnership will allow Kambi to grab a larger piece of the growing Latin American gaming market. It will add its services to provinces such as Córdoba, Argentina’s second-most populous, and provinces where the regulatory framework provides the local operator with exclusivity.
Kambi previously partnered with Casino Magic in the Neuquén province in the first quarter of 2021. Later, in the fourth quarter, it added a new deal in Argentina with BetWarrior. After implementing new regulations, the latter made it the first sports betting provider to operate in the province of Buenos Aires, as well as in its capital.
Casino Club operates several gaming properties throughout Argentina. In addition, it plans on launching its sports betting service with Kambi in the province of Misiones later this year. This marks an inaugural partnership between the two companies.
Ondiss Tied to Controversial Figure
In addition to its extensive footprint of casinos in Argentina, Ondiss also has ties to gaming properties elsewhere. In 2014, Dania Entertainment Center was ready to take over the Dania Casino & Jai Alai (now the Casino @ Dania Beach) property in Dania Beach, FL, from Boyd Gaming. Behind it, holding 75%, was Ondiss Corp.
At the time, US officials became concerned over how Dania Entertainment would finance the $85-million purchase. As a result, they put the company’s principles under the microscope.
Among these executives is Cristóbal López. The Argentine businessman, entrepreneur, and the man behind the Casino of Mendoza, still remains in the spotlight for alleged tax evasion and other crimes.
López has, on several occasions, claimed that the target on his back is retribution. It stems, he says, from his previous relationship with former Argentine President Nestor Kirchner and his wife, current VP (and also former President) Cristina Fernández de Kirchner.
The businessman alleged using his hospitality properties to help the Kirchners launder money. Those accusations didn’t survive scrutiny in court when the case concluded last year.
However, López didn’t emerge completely unscathed. Because he, in his words, remains a target, a different court ordered him to pay ARS154.4 million (US$1.15 million) in outstanding taxes.
He has stated he can’t afford to pay the tax bill, dubbing it part of the ongoing political persecution he faces. However, the government always gets its money. It has ordered his two sons, Emiliano and Cristóbal, to pay ARS48.6 million and ARS76 million (US$363,344 and $567,796), respectively.
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