Kambi Group has significantly advanced its US profile by securing a ‘multi-state sportsbook services agreement’ with Penn National Gaming.
Updating investors, Kambi details that it will become the lead sports betting systems and software supplier to Penn National, ‘North America’s largest regional gaming operator’, servicing both its on-property and digital disciplines.
Nasdaq-listed Penn National operates more than 40 gaming facilities across 19 U.S. states, with Kambi confirming that it has begun its sportsbook platform roll-out across licensed US jurisdictions.
The contract, secured through a ‘competitive selection process’, sees Kambi secure its biggest partnership to date for the liberalised US sports betting market post-PASPA.
Kristian Nylén, Kambi’s Chief Executive Officer, commented: “Kambi’s strategy has always been to partner with tier one operators, particularly those that share our vision and passion for sports and sports wagering. In Penn National, we have found an ideal partner – one that is not only passionate about providing high-quality sports wagering experiences to its customers but a company that adheres to the highest level of ethical business standards.
“It’s an honour for Kambi to be working with an organisation of the size and stature of Penn National, and we look forward to helping them become a national leader in the U.S. sports betting market in the coming years.”
At present, Penn National operates gaming properties in eight US states where sports betting is permitted, including West Virginia, Pennsylvania, Iowa and Nevada.
In its update, Kambi informs that the first Penn National launches will take place during Q3 2019 trading, with partnership stakeholders focusing on Penn National’s brick and mortar casinos in Iowa and Indiana.
Jon Kaplowitz, Penn National’s SVP of Interactive, said: “Sports betting represents an exciting growth opportunity for Penn National. By controlling our front-end product and leveraging our vast casino footprint, our Company is well-positioned to execute on a sports betting strategy that maximizes value to shareholders. Utilizing Kambi’s best-in-class managed-trading services and omni-channel software allows us to effectively capitalize on this strategy.”
Reacting on LinkedIn, Kambi Sales Director Damian Xuereb added: “I’m thoroughly delighted to announce our partnership with Penn National Gaming.
“This is a partner that truly understand the future of sports betting in the US and will be a leading nationwide player. Congrats to all involved, we are ecstatic to be working with such a talented team with an incredible vision. 19 states and 41 properties here we come.”