Kambi technology and services selected to support expansion of DraftKings' product portfolio
Kambi Group plc has signed a multi-year deal with DraftKings, Inc. to provide technology and services to the sports-tech and media entertainment company.
The agreement, which follows the U.S. Supreme Court's decision to repeal a near federal ban on sports betting, will see DraftKings leverage the Kambi technology ahead of its imminent sportsbook launch in the US state of New Jersey.
The deal also includes terms for the partnership to expand when commercially agreeable regulatory frameworks are implemented in the US.
The uncertain U.S. regulatory timetable makes the deal's impact on Kambi's 2018 revenues difficult to predict, although Kambi believes the partnership could provide a significant source of income in the longer-term.
Kristian Nylén, Kambi Chief Executive Officer, said: "I am delighted Kambi has been selected to partner DraftKings as it enters the sports betting market.
"The Kambi technology is unique in that it empowers operators to innovate and create differentiated sports betting experiences, providing the flexibility which will be crucial in the developing U.S. market."