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NEWS 22 August 2019

Kambi extends DraftKings deal

By Owain Flanders

Kambi has signed a multi-year extension to the supplier's sportsbook contract with DraftKings, extending the partnership into eight additional states.

The original deal, signed last year following the repeal of PASPA, included terms for the partnership to expand when commercially agreeable regulatory frameworks were implemented in the US.

The extension secures Kambi’s current revenue in New Jersey, while also providing the opportunity for additional revenue in Colorado, Indiana, Iowa, Maine, New York, Pennsylvania, Tennessee and West Virginia.

Kristian Nylén, Kambi CEO, said: “I’m delighted the extension of our relationship through this new agreement will enable players in other states to enjoy the same sports betting experiences that have helped DraftKings become a market leader in New Jersey.”

Kambi’s revenue grew 25% year-on-year to €42.6m ($47.5m) for H1 2019, with a rise in profit of 19% to €5.1m.

Kambi attributed a significant portion of this financial growth to US activity, with New Jersey recently reporting an 11% growth in gaming revenue for the month of July, to $334.4m.

DraftKings currently operates sportsbooks in Mississippi, New Jersey and West Virginia.

 

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