Kambi agrees multi-state contract extension with DraftKings
DraftKings has also entered Iowa via sports betting deal with three Wild Rose casinos in the state
Kambi has agreed a multi-state contract extension with US operator DraftKings to launch its sportsbook services in eight new states.
The expansion to the deal originally signed in 2018 will see DraftKings go live in on Kambi tech in Colorado, Indiana, Iowa, Maine, New York, Pennsylvania, Tennessee and West Virginia.
Kambi currently powers DraftKings in New Jersey, where the DFS operator opened a new office in Hoboken in June.
Kambi CEO Kristian Nylén said: “Over the course of the past 12 months, Kambi and DraftKings have developed a symbiotic relationship, working closely together to deliver a high-quality sportsbook, which has only improved over time.
“I’m delighted the extension of our relationship through this new agreement will enable players in other states to enjoy the same exciting sports betting experiences that have helped DraftKings become a market leader in New Jersey.”
Kambi’s share price rose 18% as a result of the news. The Swedish firm’s share price dipped by a similar amount in June after DraftKings was rumoured to be interested in buying rival supplier SBTech.
Kambi declined to comment on the rumours.
Elsewhere, DraftKings has partnered with Wild Rose Entertainment to provide both retail and online sports betting at the operator’s three Iowa casinos.
A DraftKings statement said Wild Rose undertook a thorough analysis of the betting landscape and chose to partner with DraftKings as it is considered the “most recognizable name in sports gaming.”
“Sports betting is the most energizing change in Iowa gaming since the slot machine,” COO and president of Wild Rose Tom Timmons added.
Matt Kalish, chief revenue officer and co-founder of DraftKings said: “We look forward to fueling fans’ passion and competitive spirit while building on the success we’ve seen in the other states we serve.”