Kambi Extends Sportsbook Deal with PENN Entertainment

Kambi Group, a leading provider of sports betting services to licensed gaming operators, announced that it has extended its partnership with the American casino and hospitality giant PENN Entertainment. Under the refreshed agreement, the former company will continue to supply its partner with sports betting technology through July 31, 2027.

Kambi to Continue Supplying PENN’s Retail Sportsbooks

According to the announcement, Kambi has extended the terms of its retail sportsbook partnership with PENN Entertainment ahead of the incumbent deal’s expiration date on December 31, 2025. For context, Kambi currently supplies sports betting technology to some 30 PENN properties across 13 US states.

Under the renewed agreement, Kambi’s state-of-the-art retail sportsbook solutions will continue to power PENN’s on-property sportsbooks. As a result, the operator will continue to benefit from enhanced flexibility ahead of its migration to proprietary technology.

For context, Kambi’s cutting-edge retail offering allows its partners to tap into advance trading capabilities, state-of-the-art betting kiosks, Bring Your Own Device technology and seamless over-the-counter wagering solutions. Thanks to that, Kambi’s clients can deliver top-notch experiences to their customers.

CEO Becher Hailed the Agreement

Werner Becher, Kambi’s chief executive officer, commented on the renewed partnership, hailing the extended retail agreement with PENN Entertainment. According to him, the extended tie-up cements Kambi as a trusted sportsbook provider to the broader gaming sector and tier-1 operators.

This agreement ensures PENN can continue to benefit from our high-performance technology while maintaining the flexibility to execute its long-term strategic plans. We look forward to continuing to work alongside PENN to deliver exceptional retail sportsbook experiences for its customers across the US.

Werner Becher, CEO, Kambi

Kambi Reported Mixed Q3 Results

In other news, Kambi recently disclosed its Q3 financials, reporting mixed results due to certain setbacks. The company reached quarterly revenue of $43 million, as well as adjusted EBITA of $3.4 million. While the leadership remained confident in the company’s overall performance, the company was impacted by a weaker sporting calendar.

Previously, Kambi expanded its overall presence with a new agreement with Glitnor Group, which selected the firm as its new sportsbook provider.