Malta, 2 August, 2018
Kambi becomes first sportsbook supplier active in New Jersey’s online sports betting market after passing preliminary licensing process
Kambi has created history by becoming the first sports betting supplier to process online wagers in the post-PASPA U.S. market, following the eagerly-anticipated launch of the Kambi-powered DraftKings Sportsbook in New Jersey.
Yesterday’s ground-breaking launch comes after Kambi and DraftKings, along with DraftKings’ land-based licensing partner Resorts Casino, were approved for an online sports betting Transactional Waiver from the New Jersey Division of Gaming Enforcement (DGE).
A Transactional Waiver is the first regulatory step to securing a full licence in New Jersey and acts as a preliminary permit to operate within the state until the full licensing process has been completed.
The approval of the Transactional Waiver followed a thorough vetting process, with the DGE scrutinising areas such as product and technology to ensure Kambi complied with the regulator’s procedural and technical standards.
Until now, the DGE had yet to approve a Transactional Waiver for online sports betting, with the regulator having only issued land-based operations with a similar permit.
The fact Kambi is the first, and so far only, sportsbook supplier to launch an online sportsbook service in partnership with an operator is borne out of the company’s vast experience in regulated markets, transparent corporate structure and continual focus on matters concerning probity and integrity.
In addition, the release of the DraftKings Sportsbook comes just six weeks after Kambi and DraftKings signed an agreement to launch a U.S.-facing product, demonstrating the speed at which Kambi enables customers to go to market.
As per state regulations, yesterday’s launch has activated a five-day ‘soft play’ phase, during which time certain limitations must be applied to the product, such as scope of offer, opening hours and number of concurrent users.
Kristian Nylén, Kambi Chief Executive Officer, said: “This launch marks an exciting new chapter for Kambi, creating history by becoming the first sports betting supplier to process online wagers in the U.S. following the repeal of PASPA.
“In addition, to so quickly meet the New Jersey regulator’s online standards and requirements is also pleasing, as the achievement enhances our position as the secure and quality choice for operators seeking a sportsbook partner.”
For further information, please contact:
Mia Nordlander, Head of Investor Relations
Tel: +44 203 617 7270
+44 785 091 0933
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About Kambi
Kambi is a provider of premium sports betting services to licensed B2C gaming operators. Kambi Group plc is listed on First North at Nasdaq Stockholm. Our services encompass a broad offering from frontend user interface through to odds compiling, customer intelligence and risk management, built on an in-house developed software platform. Kambi’s 21 customers include DraftKings, Rush Street Interactive, ATG, Kindred Group, 888, Paf, Televisa, LeoVegas, and Napoleon Games. Kambi employs more than 600 staff across offices in Malta (headquarters), Bucharest, London, Manila, Stockholm and Sydney.
Kambi utilises a best of breed security approach. Kambi is a member of WLA, EL, Cibelae and is eCOGRA and ISO 27001 certified. Kambi Group plc is listed on First North at Nasdaq Stockholm under the symbol “KAMBI”. The Company’s Certified Advisor is Redeye AB.