Kambi, Penn sign new retail sportsbook deal

Kambi Group and US sports betting operator Penn Entertainment have extended the term of their retail sportsbook platform agreement.

Kambi will continue to provide Penn’s retail casinos in the US with its sportsbook products including kiosks, point-of-sale terminals and odds boards.

The deal, which runs until December 31 next year and reworks the previous deal which was due to expire in July this year, will also see Kambi provide its Bring Your Own Device technology.

The two companies have agreed the same level of revenue share payments as before, covering sports betting revenue generated by Penn either via Kambi’s platform or vast Penn’s proprietary sportsbook in jurisdictions previously supported by Kambi.

Penn plans to transfer its retail sportsbooks to its proprietary technology over the course of the new deal with Kambi.

Kambi CEO and co-founder Kristian Nylén said the extended agreement has secured the company “an important additional revenue stream” until the end of next year and backed Penn’s “vast” retail estate to “continue to benefit from throughout the duration of the extended contract.”

Kambi currently supports Penn in 13 US states across 30 properties.