Penn National Gaming secures Kambi and skin betting operator deals
Kambi Group has entered in an exclusive, long-term partnership to supply Penn National Gaming with its online and retail sportsbook solutions.
Nasdaq-listed Penn National, which operates more than 40 facilities in 19 different states, will integrate Kambi’s sportsbook platform ahead of a rollout in jurisdictions with active sports betting legislation.
The first launches of Kambi-supplied Penn National products are expected in Q3 this year and will focus on the operator’s land-based properties in Iowa and Indiana. Online is expected to follow in 2020.
The agreement with Penn National represents Kambi’s fourth customer signing in 2019, following partnerships with Mybet, Mohegan Gaming and Entertainment, and BetWarrior.
Kristian Nylén, Kambi CEO, said: “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.”
Penn National announced this deal along with the news it had secured multi-year agreements with operators DraftKings, PointsBet, TheScore, and The Stars Group.
A statement from Penn National said: “Under these agreements, each skin partner will have the options to own, operate and brand real-money online sports betting, poker and casino offerings in each state, pursuant to a first, second or third skin, and subject to license availability, state law and regulatory approvals.”
Its deal with DraftKings covers seven states, runs for 10 years and will see DraftKings share revenue with Penn National based on net gaming revenue.
The agreements with PointsBet and TheScore run for 20 years each and also work on a revenue-share basis.
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