Kambi Group plc enters into Sportsbook agreement with DraftKings
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Kambi technology and services selected to support expansion of DraftKings’ product portfolio
Kambi Group plc has signed a multi-year deal with DraftKings, Inc. to provide technology and services to the sports-tech and media entertainment company.
The agreement, which follows the U.S. Supreme Court’s decision to repeal a near federal ban on sports betting, will see DraftKings leverage the Kambi technology ahead of its imminent sportsbook launch in the U.S. state of New Jersey.
The deal also includes terms for the partnership to expand when commercially agreeable regulatory frameworks are implemented in the U.S..
The uncertain U.S. regulatory timetable makes the deal’s impact on Kambi’s 2018 revenues difficult to predict, although Kambi believes the partnership could provide a significant source of income in the longer-term.
Kristian Nylén, Kambi Chief Executive Officer, said: “I am delighted Kambi has been selected to partner DraftKings as it enters the sports betting market.
“The Kambi technology is unique in that it empowers operators to innovate and create differentiated sports betting experiences, providing the flexibility which will be crucial in the developing U.S. market.”
For further information, please contact:
Kambi Group plc
Kristian Nylen, Chief Executive Officer
David Kenyon, Chief Financial Officer
+44 203 617 7270
Kambi is a provider of premium sports betting services to licensed B2C gaming and gambling operators. Kambi Group plc is listed on First North at Nasdaq Stockholm. Active in six continents, our services encompass a broad offering from frontend user interface through to odds compiling, customer intelligence and risk management, built on an in-house developed software platform. Kambi’s 19 customers include Rush Street Interactive, Kindred Group, 888, Paf, Televisa, LeoVegas, Mr Green and Napoleon Games. Kambi employs more than 600 staff across offices in Malta (headquarters), Bucharest, London, Manila, Stockholm and Sydney.
Kambi utilises a best of breed security approach. Kambi is a member of WLA, EL, Cibelae and is eCOGRA and ISO 27001 certified. Kambi Group plc is listed on First North at Nasdaq Stockholm under the symbol “KAMBI”. The Company’s Certified Advisor is Redeye AB.
Disclaimer: The information in this press release is such that Kambi Group plc is required to disclose under the EU Directive of Market Abuse Regulation and the Swedish Securities Market Act.
The information in this report was sent for publication on Wednesday, 20 June 2018 at 15:30 CET by CEO Kristian Nylén.
Source: European Gaming Industry News