Kambi Extends Platform Deal with PENN through December 2025

Kambi Group, a provider of premium sports betting services to licensed B2C gaming operators, announced that it has extended its retail sportsbook platform deal with PENN Entertainment. As a result, Kambi will continue to supply its partner’s land-based casinos with its sports betting suite.

Under the terms of the original partnership deal, Kambi was set to provide PENN with its sportsbook platform until July 2024. However, the extended deal will instead see the former firm provide the American entertainment company with sports betting solutions through December 31, 2025.

As per the original deal, Kambi will power PENN’s retail casinos across the United States with market-leading retail sports betting products, such as kiosks, point-of-sale terminals, odds board and Bring Your Own Device technology.

The deal currently spans 13 states and covers 30 PENN Entertainment properties.

Kambi Secured an Important Additional Revenue Stream

The announcement also pointed out that, over the course of the extended term, PENN Entertainment plans to migrate its retail sportsbook to its proprietary technology. Because of that, the amended agreement makes it clear that “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 to Kambi through December 2025.”

Kambi’s co-founder and chief executive officer, Kristian Nylén, commented on the extended agreement, sharing his excitement about the opportunity to support PENN Entertainment through December 2025. This, according to him, will be an important additional revenue stream for Kambi.

Nylén promised that Kambi will continue to leverage its best-in-class products to help PENN maintain its presence in the US.

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.

Kristian Nylén, co-founder & CEO, Kambi Group

Speaking of Kristian Nylén, the CEO recently announced his intention to depart from the company. He, however, agreed to remain on board until a suitable successor has been appointed.

In December, Kambi agreed to power Bingoal’s new sportsbook in Belgium and the Netherlands and empower its business with reliable sports betting solutions.