Kambi signs contract extension with DraftKings

Kambi signs contract extension with DraftKings

Extension includes eight additional states, including New York, Indiana and Pennsylvania

Kambi, the leading global sports betting provider, and DraftKings Inc., the sports-tech and media entertainment company, have signed a multi-state contract extension.

The expansion agreement includes terms for the Kambi-DraftKings partnership to be extended into eight additional states; Colorado, Indiana, Iowa, Maine, New York, Pennsylvania, Tennessee and West Virginia.

The terms of the deal therefore secure Kambi’s current revenues in New Jersey while also providing the opportunity to generate incremental revenues as and when the partnership enters the additional jurisdictions.

The expanded agreement will come into fruition on Friday (23 August), when DraftKings will open the doors to its Kambi-powered sportsbook at the del Lago Resort & Casino in New York.

Kambi and DraftKings first partnered in June 2018, following which they accepted the first legal online sports wager in the US post-PASPA and established a leading position in the New Jersey market.

Kristian Nylén, Kambi Chief Executive Officer, said: “Over the course of the past 12 months, Kambi and DraftKings have developed a symbiotic relationship, working closely together to deliver a high-quality sportsbook, which has only improved over time.

“I’m delighted the extension of our relationship through this new agreement will enable players in other states to enjoy the same exciting sports betting experiences that have helped DraftKings become a market leader in New Jersey.”

Jason Robins, DraftKings Chief Executive Officer, said: “Kambi has been a key partner for DraftKings, providing us with backend sportsbook technology that has enabled to us to offer our customers an engaging product in a highly competitive market.”