Kambi Group signs sportsbook agreement with Oaklawn Racing

Stockholm-listed sports betting supplier Kambi Group has signed an agreement with Oaklawn Racing Casino Resort to power an online sportsbook in the US state of Arkansas.

Kambi will support Oaklawn in launching online sportsbook operations under the Oaklawn Sports brand, adding to the operator's existing Kambi-powered retail sportsbook, which launched last year in partnership with Churchill Downs Inc.

Both retail and online operations will be now be governed by the newly signed agreement, which sees Kambi contract directly with Oaklawn for an extended period. 

“We're very excited to strengthen our relationship with Oaklawn Racing Casino Resort and imminently extend our partnership into the mobile space,” said Kambi chief executive officer and co-founder, Kristian Nylén. 

“The combination of Kambi's advanced technology and Oaklawn's reputation as one of the premier Thoroughbred tracks and casinos in the US makes this an enticing sports betting proposition.”

Oaklawn Racing Casino Resort general manager Wayne Smith added: “Oaklawn has been one of the most trusted brands in Arkansas for more than 100 years and we are excited to now offer our loyal customers yet another great amenity with our much-anticipated mobile wagering platform. We look forward to delivering the best online sports wagering experience in Arkansas.”

Shares in Kambi Group plc. (STO:KAMBI) were trading marginally higher at SEK170.75 per share in Stockholm Tuesday morning.