Kambi Group and US-based Rush Street Interactive sign sportsbook deal
Kambi Group plc, the global sports betting service, has signed a multi-year deal to provide its Sportsbook and innovative technology to Rush Street Interactive, one of the fastest growing online gaming operators in the United States.
Following this week’s U.S. Supreme Court decision to repeal the country’s federal sports betting ban in full, Rush Street plans to launch a Kambi-powered Sportsbook within select states where permitted.
Chicago-based Rush Street Interactive is affiliated with Rush Street Gaming, which owns and operates four bricks and mortar casinos in three of the country’s largest states – New York, Pennsylvania and Illinois.
Rush Street Interactive also operates the rapidly growing PlaySugarhouse.com online casino site in New Jersey’s regulated gaming market.
In two of the four states where Rush Street operates, local lawmakers have already enacted sports betting legislation, and the other two are in the process of developing a legal framework for regulated sports betting now that the prohibition is lifted.
The agreement will see the Kambi Sportsbook integrated into Rush Street Interactive’s proprietary platform, and covers the provision of online and retail services, as well as markets outside of the U.S., if Rush Street Interactive is to expand its business internationally.
The uncertainty around a U.S. regulatory timetable means the impact of the deal on Kambi’s 2018 revenues is difficult to predict, however, when also factoring in the potential for revenues from outside of the U.S., a positive contribution is anticipated.
“Kambi has long kept a close eye on the U.S. market, carefully building a business and technology to suit the likely state-by-state regulation of sports betting, as well as meet the requirements stakeholders have for a safe and secure sportsbook,” Kristian Nylen, Kambi Chief Executive, said.
“This agreement with Rush Street Interactive, one of the most respected and innovative gaming companies in the U.S., is recognition that Kambi not only has online premium sports betting services ready to appeal to American sports enthusiasts, but those which will help protect the integrity of sports.”
Richard Schwartz, President of Rush Street Interactive, commented: “Rush Street Interactive was founded on the key principles of providing entertaining and memorable experiences to our customers, without compromising on integrity.
“Therefore, when deciding to launch a sports betting product, it was key we chose a partner who shared those principles, and at the same time provided us with the opportunity to launch a premier product firmly aligned with Rush Street’s focus on innovation and customer experience.
“In Kambi we are confident we have found that partner and, following the recent Supreme Court ruling, look forward to launching a high-quality Sportsbook in the U.S., as well as other regulated markets internationally,” he added.
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