Stockholm-listed sports betting technology and software supplier Kambi Group Plc continues its strong US commercial momentum confirming that it has secured a multi-year services agreement with leading US fantasy sports operator DraftKings.
Issuing a short statement, Kambi governance confirms that DraftKings has selected its technology platform as the lead system for its upcoming US sports betting market expansion.
“The agreement, which follows the US 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 US 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.” Kambi governance details in its market communication.
Updating the market, Kambi governance notes that the ‘uncertain US regulatory timetable’, will make the partnership’s impact difficult to predict on Kambi’s 2018 performance.
Nevertheless, Kristian Nylén Kambi Chief Executive Officer states that the deal will provide a significant source of income in the long-term.
“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.”
Since SCOTUS repeal of PASPA’s federal mandate, DFS operator DraftKings has stated its intent in leading the new US betting market. The DFS operator has moved to open its first betting-centric offices in New Jersey, and has confirmed that it will undertake a further $150 million funding round to accelerate its US betting ambitions.
The agreement with DraftKings, represents Kambi’s second major US-centric sportsbook deal in 2018, having secured casino operator Rush Street Gaming as a new betting client last May.