Shares in sportsbook provider gain more than 5% after announcing landmark omni-channel sportsbook and PAM agreement in Nevada
Kambi Group has agreed a long-term partnership to provide its turnkey sportsbook and player account management platform (PAM) to leading casino operator Station Casinos.
The ten-year agreement will enable Kambi to enter Nevada and Las Vegas for the first time, having secured a licence in The Silver State last year.
The agreement will see Kambi deliver a fully integrated omni-channel solution across retail and online, designed specifically for the Nevada market.
Alongside its parent company Red Rock Resorts, Station Casinos owns and operates a portfolio of more than 20 properties across the Las Vegas Valley, including Red Rock Casino Resort Spa, Green Valley Ranch and Durango Casino & Resort.
The partnership is expected to have a mid-single-digit-million euros financial impact for Kambi from 2027 onwards.
“Kambi is delighted to enter this exciting partnership with Station Casinos, an operator of great size and reputation in the Nevada market,” said Kambi CEO Werner Becher. “This landmark agreement will not only see Kambi enter Nevada, widely known for being the gold standard of gaming and sports betting regulation, but it also marks the first state-wide deployment of our fully integrated Turnkey Sportsbook and PAM solution.
“I look forward to working closely with Station Casinos over the next decade as we aim to take its online and retail sportsbooks to the next level.”
In addition to its off-Strip locations, Station Casinos’ on-Strip sports betting footprint includes a third-party management agreement via its STN Sports division to operate the retail sportsbook at Treasure Island, as well as operating the retail and mobile sports betting operations of Fontainebleau Las Vegas.
The operator also manages sportsbooks for third-party properties outside its core portfolio, including the El Cortez Hotel & Casino in Downtown Las Vegas, as well as the CasaBlanca Resort and Virgin River Hotel & Casino in Mesquite, Nevada.
In addition to an on-property sportsbook rollout across Nevada, Station Casinos will utilise Kambi’s turnkey sportsbook for its STN Sports mobile app.
“We look forward to partnering with Kambi and leveraging their proven technology platform to enhance the sports betting experience for our guests,” said Jason McCormick, vice president of Race and Sports for Station Casinos. “Together, we are committed to providing a reliable, engaging, and seamless experience that meets the evolving needs of our players.”
Shares in Kambi Group plc (STO:KAMBI) climbed 5.36 per cent to SEK184.20 per share in Stockholm Wednesday following the announcement.