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DraftKings set to end Kambi partnership in 2021

24th July 2020 10:40 am GMT
DraftKings

New York-listed sports betting operator DraftKings and technology provider Kambi have announced an agreement regarding the migration of DraftKings’ players to its own proprietary sports betting platform.

Kambi’s contract to provide sports betting technology and services to DraftKings will end no earlier than 30 September 2021, although DraftKings will be able to leverage its proprietary technology, gained through the recent acquisition of SBTech, prior to that date.

Kambi will continue to receive the same level of revenue share from DraftKings’ sports betting operations until that date, whether earned though the Kambi platform or following a migration away from Kambi.

The agreement also sets out a greater balance of responsibilities between Kambi and DraftKings during the upcoming transition phase, and strengthens the security of Kambi’s data and intellectual property.

“Since partnering in June 2018, the Kambi-DraftKings relationship has proven to be highly rewarding for both parties, delivering first-class sports betting experiences to players across more states than any other sportsbook, and establishing Kambi and DraftKings as true leaders in their respective fields,” said Kambi chief executive Kristian Nylén.

“The agreement we’ve announced today works to secure a strong revenue stream for Kambi for the next 15 months, while our growing and exciting portfolio of partners leaves me with no doubt that Kambi is well placed to extend its leadership position over the months and years to come.”

Shares in Kambi Group plc. (STO:KAMBI) were trading 10.57 per cent lower at SEK203.00 per share in Stockholm Friday morning following the news and release of Kambi’s Q2 results.

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