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Julie Moraine August 22, 2019 2 min read
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Kambi Sportsbook to Expand across Eight More States
- The new deal entails a much wider presence of Kambi’s sportsbook across eight new states
- DraftKings pleased with the year’s results in collaboration with Kambi
- First six months of 2019 reveal a ~25% growth in revenue
DraftKings CEO, Jason Robins, said that “Kambi has been a key partner for DraftKings, providing us with backend sportsbook technology that has enabled to us to offer our customers an engaging product in a highly competitive market.”`
A Good Year to Grow
The American daily fantasy and sports betting giant, DraftKings, stepped into collaboration with software developer and sports betting solutions provider Kambi Group PLC back in June 2018, when the former was seeking support for launching a sports betting service in New Jersey. Shortly after the conclusion of the first year of working together, results point towards mutual appreciation and just as of recently DraftKings have publicly announced their intentions on providing support for the further expansion of their partner in growth across eight states.
The new deal grants Kambi access to operating in New York, Pennsylvania, Colorado, Iowa, Maine, Indiana, Tennessee and West Virginia. In the meanwhile, current revenue results in New Jersey show for a steady grip and a good degree of security for the near future.
“Over the course of the past 12 months, Kambi and DraftKings have developed a symbiotic relationship, working closely together to deliver a high-quality sportsbook, which has only improved over time” said Kambi CEO Kristian Nylén.
Following the announcement, shares for the Kambi Group plc spiked a 19.21% on Thursday. The solutions developer pointed out that the opportunity to generate incremental revenue, once the partnership commences its new jurisdictions, is a very welcome one.
Last month, Kambi reported a 25.3% year-on-year revenue growth for the first half of 2019.
With 4 years experience as an analyst, Julie—or ‘Jewels’, as we aptly refer to her in the office—is nothing short of a marvel-worthy in her attention to the forex and cryptocurrency space as she quickly became the first pick to co-pilot education to the masses with Mike.
Business August 22, 2019
Business August 22, 2019