Kambi Group plc
24 Mar 2023 - 05:00
Malta, 13 November, 2018
Kambi Group plc signs Sportsbook deal with Parx Casino owner Greenwood Gaming and Entertainment Inc.
Kambi expands U.S. footprint with provision of its online and land-based Sportsbook to Pennsylvania’s largest casino operator
Kambi Group plc has secured a multi-year agreement with Greenwood Gaming and Entertainment Inc. (“Greenwood Gaming”), owner of the largest casino gaming complex in the U.S. state of Pennsylvania, Parx Casino.
The deal will see Kambi provide its cutting-edge sports betting platform, range of managed services and best-in-class land-based wagering experience to Parx Casino, which will later be complemented by the launch of a Parx-branded online sportsbook.
The 260,000 sq. ft. Parx Casino, situated just 15 miles from Philadelphia in Bensalem, Pennsylvania, offers more than 3,200 slot machines, 188 live table games, a poker room with 60 poker tables, live racing and simulcast action, a 1,500 seat entertainment venue and several dining options and bars.
The Parx Casino on-property sportsbook is on track to launch before the end of the year, with the online sportsbook to go live following the integration of the Kambi platform into the Parx player account management system, which is supplied by the operator’s technology partner, GAN.
In addition, Kambi’s land-based Sportsbook will be installed at the Greenwood Gaming-owned South Philadelphia Turf Club, which is situated at the South Philadelphia Sports Complex, home to current NFL Super Bowl champions Philadelphia Eagles and MLB side Philadelphia Phillies.
The contract, which also includes a provision for Kambi to support Greenwood Gaming with a potential sports betting operation in the neighbouring state of New Jersey, followed a thorough selection process, with Kambi’s unblemished record of regulatory compliance and corporate probity key to securing the deal.
Due to the time of launch, the agreement is not expected to have a major effect on Kambi’s 2018 revenues, however, is anticipated to have a more material impact in future years.
Kristian Nylén, Kambi Chief Executive Officer, said: “Greenwood Gaming represents yet another exciting partnership for Kambi, as we continue to establish ourselves as the premier choice for operators looking to enter the U.S. sports wagering market with a quality product and trusted partner.
“Greenwood Gaming is committed to delivering exciting gaming experiences to players in a safe and responsible fashion, therefore, when deciding to launch a sportsbook, Kambi quickly became the natural choice and I’m confident we will form a successful partnership.”
John Dixon, Chief Technology Officer at Greenwood Gaming and Entertainment, said: “We are excited to be working with an experienced, successful sportsbook partner that can bring best-in-class systems and odds making to the Parx-branded sports betting products.
“We are confident in their systems to provide timely, secure and accurate wagering opportunities across many sports both pre-game and in-game.”
For enquiries, please contact:
Kambi Head of Investor Relations
+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 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 23 customers include 888, ATG, DraftKings, Greenwood Gaming and Entertainment, Kindred Group, LeoVegas, Napoleon Games and Rush Street Gaming. Kambi employs more than 650 staff across offices in Malta (headquarters), Bucharest, London, Manila, Stockholm and Sydney.
Kambi utilises a best of breed security approach, with guiding principles from ISO 27001. Kambi is 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.
About Parx Casino
Parx Casino® is owned and operated by Greenwood Racing, Inc. and is the #1 revenue generating casino property in Pennsylvania. Parx Casino® is conveniently located 20 minutes north of center city Philadelphia, I-95 exit 37 or PA Turnpike exit 351 (westbound), exit 352 (eastbound) on Street Road in Bensalem Bucks County. Parx features over 200,000 square feet of gaming; 3,270 slot machines and 148 live table games; 40 poker tables; live racing & simulcast action; Parx Grill, an upscale signature restaurant; Foodies quick service dining; Chickie’s & Pete’s Crab House and Sports Bar; Jax sports bar; Circle Bar; Bambu Noodle House; The Lucky Cheese ~ gourmet grilled cheese eatery; XLounge, luxury casino lounge and complimentary parking for over 5,000 cars. In January 2018, Parx debuted a $50M expansion that included the 1,500 seat live entertainment venue, Xcite Center; Liberty Bell Gastropub, farm-to-fork inspired menu; Oliveto, New York City style pizza and Italian Classics; Parx Poker, new custom built private poker room. For more information on Parx Casino®, visit www.parxcasino.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 and the Swedish Securities Market Act.
The information in this report was sent for publication on 13 November 2018 at 15:30 CET by CEO Kristian Nylén.