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Kambi Group plc and Mohegan Gaming & Entertainment enter into amendment to Connecticut sports betting agreement
Kurs
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Likviditet
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Kalender
| Est. tid* | ||
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Beskrivning
| Land | Malta |
|---|---|
| Lista | First North Stockholm |
| Sektor | Sällanköp |
| Industri | Betting |
Amendment ensures Kambi will receive expected revenue for five-year term following initial agreement signed in 2019
Kambi Group plc and Mohegan Gaming & Entertainment (MGE) have agreed amended terms to their sports betting services agreement in relation to the soon-to-be regulated US state of Connecticut.
The amendment respects the financial terms set out in the initial agreement between Kambi and MGE, signed in 2019, with Kambi to receive its full revenue forecasted for the duration of the full initial agreement term.
The amendment enables MGE to collaborate with alternative parties to launch on-property and online sports betting in Connecticut all while ensuring there will be no negative impact on Kambi's forecasted Group revenue.
Separately, Kambi and MGE are engaged in bilateral discussions with regards exclusive sports betting alliances in additional territories where MGE has secured market access.
Kristian Nylén, CEO and Co-founder, Kambi, said: "While we had been looking forward to supporting MGE become a sports betting leader in the Connecticut market, the amicable discussions between both parties have found a positive conclusion, with MGE respecting Kambi's financial interests for the duration of the original agreement."
Aviram Alroy, Vice President Product, Mohegan Digital said: "As we have seen first-hand in Pennsylvania, Kambi provides great product and is therefore one we look forward to potentially collaborating with in new market opportunities."
For further information, please contact:
Mia Nordlander
SVP Investor Relations
Mia.Nordlander@kambi.com
Mobile: +44 (0) 7850 910 933
Office: +44 203 318 6279
About Kambi
Kambi is a provider of premium sports betting services to licensed B2C gaming operators. Our services encompass a broad offering from front-end user interface through to odds compiling, customer intelligence and risk management, built on an in-house developed software platform. Kambi’s 30-plus customers include 888 Holdings, ATG, Churchill Downs Incorporated, DraftKings, Kindred Group, LeoVegas, Penn National Gaming and Rush Street Interactive. Kambi employs more than 900 staff across offices in Malta (headquarters), Australia, Philippines, Romania, Sweden, the UK and the United States.
Kambi utilises a best of breed security approach and is ISO 27001 and eCOGRA certified. Kambi Group plc is listed on Nasdaq First North Growth Market under the symbol "KAMBI".
The Company's Certified Advisor is Redeye AB.
Certifiedadviser@redeye.se
Tel: +46 (0) 8 121 576 90
This information is information that Kambi Group plc is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2021-07-01 15:00 CEST.