Kambi Group plc
24 Mar 2023 - 05:00
Malta, 27 August 2020
Kambi Group plc forms US sports betting partnership with Churchill Downs Incorporated
Global leader in sportsbook provision teams up with America’s preeminent racing, online wagering and entertainment company to transition and grow its BetAmerica sports betting brand
Kambi Group plc has signed a multi-year agreement with a subsidiary of Churchill Downs Incorporated (CDI) to become the sportsbook technology and services provider to CDI’s BetAmerica sports betting brand. BetAmerica sportsbooks are currently available in New Jersey, Pennsylvania, Indiana and Mississippi.
The deal will position BetAmerica to capitalise on its market access to offer Kambi’s industry leading online and on-property sports wagering experiences to new and existing players. BetAmerica will leverage Kambi’s sports betting offering with its integrated online gaming platform that will be powered by GAN’s U.S.-optimized enterprise software.
BetAmerica will benefit from Kambi’s proven excellence in sportsbook provision, with Kambi’s secure and empowering technology providing the reliability and differentiation capabilities required to succeed in today’s competitive U.S. sports wagering landscape.
The agreement is expected to have a small positive impact on Kambi’s 2020 revenue, however, the partnership has the potential to become a material source of revenue over the course of the contract.
Kristian Nylén, CEO, Kambi, commented: “It’s a pleasure for Kambi to be partnering with CDI and its BetAmerica brand, which has the potential to benefit from its market access and existing customer database. I’m certain with the quality and experience we possess, together with the BetAmerica leadership team, we will be able to grow our businesses together as the U.S. sports betting and iGaming market expands.”
Bill Carstanjen, CEO of CDI, said: “We believe the transition to Kambi and GAN as our new technology providers will enable our team to execute the rollout of BetAmerica sportsbooks and iGaming product offering more efficiently as states move to legalize and implement regulations permitting sports betting and iGaming in the coming years. BetAmerica will benefit from the proven excellence of these market-leading providers.”
For further information, please contact:
Head of Investor Relations
Mobile: +44 (0)7850 910 933
Kambi is a provider of premium sports betting services to licensed B2C gaming operators. Kambi Group plc is listed on First North Growth Market at Nasdaq Stockholm. Our services encompass a broad offering from front-end user interface through to odds compiling, customer intelligence and risk management, built on an in-house developed software platform. Kambi’s 20-plus customers include 888 Holdings, ATG, DraftKings, Kindred Group, LeoVegas, Penn National Gaming and Rush Street Interactive. Kambi employs more than 850 staff across offices in Malta (headquarters), Australia, Romania, the UK, Philippines, Sweden, Australia and the United States.
Kambi utilises a best of breed security approach and is ISO 27001and eCOGRA certified. Kambi Group plc is listed on Nasdaq First North Growth Market under the symbol “KAMBI”. The Company’s Certified Advisor is Redeye AB.
Tel: +46 (0)8 121 576 90
About Churchill Downs Incorporated
Churchill Downs Incorporated is an industry-leading racing, online wagering and gaming entertainment company anchored by our iconic flagship event – The Kentucky Derby. We own and operate Derby City Gaming, a historical racing machine facility in Louisville, Kentucky. We also own and operate one of the largest online horse racing wagering platforms in the U.S., TwinSpires.com, and we operate sports betting and iGaming through our BetAmerica platform in multiple states. We are also a leader in brick-and-mortar casino gaming with approximately 11,000 slot machines and video lottery terminals and 200 table games in eight states. Additional information about CDI can be found online at www.churchilldownsincorporated.com.
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.
The information in this report was sent for publication on 27 August 2020 at 22:10 CEST by CEO Kristian Nylén.