Kambi Group plc
24 Mar 2023 - 05:00
MGE selects Kambi to power its online and on-property sports betting products at Mohegan Sun, Connecticut
Malta, 27 March 2019
Kambi Group plc has signed an agreement to provide its online and on-property sportsbook to Mohegan Sun, MGE’s signature U.S. integrated entertainment resort located in Connecticut – one of the most successful integrated resort casino and gaming destinations in the western hemisphere and one of only two Native American tribes operating commercial casinos in Connecticut.
Introduced in 1996 by the Mohegan Tribe of Connecticut, Mohegan Sun has since built a global reputation for its first class gaming and entertainment facilities, consistently being ranked among the world’s top resort and entertainment destinations.
The 3.5 million square foot Mohegan Sun property is situated in south-eastern Connecticut, where 60% of the state’s tourism is located, and boasts both Casino of the Earth & Casino of the Sky, a state-of-the-art poker room and three major entertainment venues.
Following a competitive process, MGE selected Kambi in part due to its track-record of lawful and responsible delivery in the US, including the quality and flexibility of its sports wagering products, trading and risk management capabilities and unrivalled speed to market – both online and on-property.
Since the repeal of the federal sports betting ban in the US last May, Kambi has built a leading position in two of the largest states to have regulated thus far; New Jersey and Pennsylvania, as well as processing the historic first legal online wager in the country outside of Nevada.
While sports wagering has yet to be regulated on an intrastate basis in Connecticut, Mohegan Sun supports pending state legislation to legalise the activity as early as this year. Under existing tribal-state agreements between the Mohegan Tribe and the State of Connecticut and similar agreements with the other federally recognised tribe in the state, commercial casino games are operated exclusively by the two federally recognised tribes. In the meantime, the Kambi Sportsbook will be integrated into Mohegan Sun’s iPro gaming platform to power a free-to-play sportsbook, enabling Mohegan Sun patrons to familiarise themselves with the Kambi product ahead of a regulated real-money launch.
Due to the uncertain regulatory timetable, Kambi is unable to guide on what impact, if any, the deal will have on its 2019 revenues, however, the strategic alliance is expected to generate material income in future years.
Kristian Nylén, Kambi Chief Executive Officer, said: “Kambi’s strategy in the US is to partner with the biggest and best gaming operators each state has to offer. In Mohegan Sun, not only have we partnered with one of the two largest casinos in Connecticut, but also one of the leading gaming and entertainment destinations across the whole of the country.”
Aviram Alroy, VP of Interactive Gaming for Mohegan Gaming & Entertainment, said: “Mohegan Sun’s goal is to utilise our brand and strong presence in the state and after a long vetting process, we found that Kambi was best positioned to complement that, as they’re the most sophisticated and comprehensive Sportsbook out there.
“That, along with a highly experienced and responsive team, placed Kambi well above the competition in the selection of a sports betting strategic partner in Connecticut.”
For enquiries, please contact:
Head of Investor Relations
Tel: +44 785 091 0933
Kambi is a provider of premium sports betting services to licensed B2C gaming operators. Kambi Group plc is listed on First North 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, Greenwood Gaming & Entertainment, Kindred Group, LeoVegas, Napoleon Games and Rush Street Interactive. Kambi employs more than 700 staff across offices in Malta (headquarters), 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 First North at Nasdaq Stockholm under the symbol “KAMBI”. The Company’s Certified Advisor is Redeye AB.
Tel: +46 (0)8 121 576 90
About Mohegan Gaming & Entertainment
Mohegan Gaming & Entertainment (MGE) is a master developer and operator of premier global integrated entertainment resorts, including Mohegan Sun in Uncasville, Connecticut and Inspire in Incheon, South Korea. MGE is owner, developer, and/or manager of integrated entertainment resorts throughout the United States, including Connecticut, New Jersey, Washington, Pennsylvania, Louisiana, Northern Asia, and beginning Summer 2019 Niagara Falls, Canada. MGE is owner and operator of Connecticut Sun, a professional basketball team in the WNBA and New England Black Wolves, a professional lacrosse team in the National Lacrosse League. For more information on MGE and our properties, visit mohegangaming.com.
About Mohegan Sun
Owned by Mohegan Gaming & Entertainment, Mohegan Sun is one of the largest, most spectacular entertainment, gaming, dining and shopping destinations in the United States. Situated on 185 acres along the Thames River in scenic southeastern Connecticut, Mohegan Sun is home to three unique casinos, 1,600 deluxe hotel rooms, 2 world-class spas, a golf course, over 90 shops, restaurants and bars as well as three award-winning entertainment venues including a 10,000-seat Arena. Mohegan Sun is within easy access of New York, Boston, Hartford and Providence and located 15 minutes from the museums, antique shops and waterfront of Mystic Country. More information is available by calling 1.888.226.7711 or visiting mohegansun.com. Connect with us on Facebook, follow us on Twitter and Instagram @mohegansun, view us on YouTube and find us on Snapchat at username MoheganSun.and Instagram @mohegansun, view us on YouTube and find us on Snapchat at username MoheganSun.
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 27 March 2019 at 14:00 CET by CEO Kristian Nylén.
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