In this report, we will be taking a look at Kambi, who have recently announced the plans they have to extend their partnership with DraftKings. The multi-year extensions mean that the supplier’s sportsbook contract with DraftKings will be extending into eight additional states. This is brilliant news for both parties. Let’s take a look.
Originally, the deal was signed between the two-last year. This came after the repeal of PASPA, including terms for the partnership to expand when commercially agreeable regulatory frameworks were implemented in the US.
Kambi Agree Extension with DraftKings
The extension makes sure of the fact that for Kambi, the current revenue in New Jersey will remain, while also providing the opportunity for additional revenue in Colorado, Indiana, Iowa, Maine, New York, Pennsylvania, Tennessee and West Virginia.
Kristian Nylén, the CEO at Kambi, commented on the agreement:
“I’m delighted the extension of our relationship through this new agreement will enable players in other states to enjoy the same sports betting experiences that have helped DraftKings become a market leader in New Jersey.”
The revenue for the online operator grew 25% year-on-year to €42.6m for H1 2019, with a rise in profit of 19% to €5.1m.
The factors behind Kambi’s success were attributed to financial growth in the US activity, with New Jersey recently reporting an 11% growth in gaming revenue for the month of July, to $334.4m.
In fact, it was only a couple of months ago, that casino operations in New Jersey actually outshone Nevada. That was a significant break-through in the gambling scene in the US, as Nevada had been top of the pile for so many years. New Jersey is slowly starting to challenge all of the States, due to their success gambling options.
You can find more on New Jersey and the US at the latest online gambling news, where we include all the hottest gambling stories out now.
DraftKings currently operates sportsbooks in Mississippi, New Jersey and West Virginia.
Kambi look to have secured a wicked deal for them, as the supplier is now on the move for bigger recognition in the gambling world.