Kambi and PENN Entertainment Renew Retail Sportsbook Deal
Kambi Group and PENN Entertainment have officially announced the extension of their retail sportsbook platform partnership until December 31, 2025.
The extension updates their previous agreement, which was originally set to conclude in July 2024.
As part of the extended compact, Kambi will continue to provide PENN’s nationwide network of retail casinos with its leading array of retail sportsbook solutions, including a comprehensive suite of products such as betting kiosks, point-of-sale systems, digital odds boards, and innovative Bring-Your-Own-Device (BYOD) technology.
Kambi’s leading-edge technology is currently utilized in 13 states across 30 PENN casino properties.
During this extended partnership period, PENN aims to transition its retail sportsbook operations to its in-house developed technology.
According to the updated agreement, PENN will continue to share revenue generated from retail sports betting activities with Kambi.
This arrangement includes revenue from both Kambi’s platform and PENN’s own sportsbook technology in regions where Kambi’s services were previously employed, ensuring a consistent revenue share model through the end of 2025.
Commented Kristian Nylén, Kambi CEO and Co-founder: “We are pleased to agree to this extension to our retail sportsbook agreement with PENN Entertainment through which we have secured an important additional revenue stream for Kambi until the end of 2025.
“As the industry’s leading sportsbook provider, both online and in retail, we are committed to providing our partners with cutting-edge technology and a premium service, which PENN’s vast retail estate will continue to benefit from throughout the duration of the extended contract.”
