Kambi Group plc (“Kambi”) and PENN Entertainment, Inc. (“PENN”) have reached an agreement to extend the term of their retail sportsbook platform agreement to December 31, 2025. This renewal supersedes the previous agreement which was set to expire in July 2024.
Under the agreement, Kambi will continue to supply PENN’s retail casinos nationwide with its portfolio of market-leading retail sportsbook products, including kiosks, point-of-sale terminals, odds boards, and Bring Your Own Device technology. Kambi currently supports PENN in 13 states across 30 properties.
Over the course of the extended term, PENN plans to migrate its retail sportsbooks to its proprietary technology. Pursuant to the terms of the amended agreement, any retail sports betting revenue generated by PENN, either via Kambi’s platform or via PENN’s proprietary sportsbook in jurisdictions previously supported by Kambi, will be subject to the same level of revenue share payments from PENN to Kambi through December 2025.
Kristian Nylén, Kambi CEO and Co-founder, said: “We are pleased to agree to this extension to our retail sportsbook agreement with PENN Entertainment through which we have secured an important additional revenue stream for Kambi until the end of 2025. As the industry’s leading sportsbook provider, both online and in retail, we are committed to providing our partners with cutting-edge technology and a premium service which PENN’s vast retail estate will continue to benefit from throughout the duration of the extended contract.”
For further information, please contact:
Mia Nordlander
SVP Investor Relations
Mia.Nordlander@kambi.com
Mobile: +44 (0) 7850 910 933
Office: +44 203 318 6279
Chris Stutzman
Investor Relations Analyst
Chris.Stutzman@kambi.com
Office: +1 302 603 5137
About Kambi
Kambi is a provider of premium sports betting services to licensed B2C gaming operators. 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 40-plus customers include ATG, Bally’s Corporation, Corredor Empresarial, Kindred Group, LeoVegas, LiveScore, Rush Street Interactive and Svenska Spel. Kambi employs more than 1,000 staff across offices in Malta (headquarters), Australia, Denmark, Philippines, Romania, Sweden, the UK and the United States.
Kambi utilises a best of breed security approach and is ISO 27001 and 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.
