Sports betting supplier Kambi Group and regional US gaming operator Penn National Gaming have formalized an exclusive, long-term sportsbook partnership agreement this week. Under the terms of the agreement Penn National, which operates more than 40 gaming facilities across 19 US states, will integrate the Kambi Sportsbook platform ahead of an on-property and online rollout in jurisdictions with active sports betting legislation.
In a statement, Kambi noted that legal sports betting is currently active or pending in at least eight states where Penn National operates a gaming property, including West Virginia, Pennsylvania, Iowa and Nevada. Additionally, bills that seek to regulate sports betting are on file across numerous states where Penn National has a land-based presence, potentially giving the operator “unrivaled” access to regulated sports betting markets across the country.
The first launches are due to take place in Q3 2019, initially focusing on Penn National’s brick and mortar casinos in Iowa and Indiana, with online to follow in 2020. The deal gives Penn National access to Kambi’s technology, enabling the operator to develop a proprietary front-end and differentiated sports wagering experiences.
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 honor 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 US sports betting market in the coming years.”
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.”
The agreement with Penn National represents Kambi’s fourth customer signing in 2019, following partnerships with mybet, Mohegan Gaming & Entertainment and BetWarrior. The company recently delivered another US market first when it processed New York State’s first legal sports wager at Rivers Casino & Resort Schenectady.