Kambi Group plc and Penn Entertainment Incorporated Extend Retail Sportsbook Platform Agreement Through 2025

Kambi Group plc (Kambi) and Penn Entertainment Incorporated (Penn Entertainment) have reached an agreement to extend the term of their retail sportsbook platform agreement to December 31, 2025. This renewal supersedes the previous agreement that was set to expire in July of 2024.

Under the agreement, Kambi will continue to supply Penn Entertainment’s retail casinos nationwide with its portfolio of market-leading retail sportsbook products including kiosks, point-of-sale terminals, odds boards and Bring Your Own Device technology. Kambi currently supports Penn Entertainment in 13 states across 30 properties.

Over the course of the extended term, Penn Entertainment plans to migrate its retail sportsbooks to its proprietary technology. Pursuant to the terms of the amended agreement, any retail sports betting revenue generated by Penn Entertainment, either via Kambi’s platform or via Penn Entertainment’s proprietary sportsbook in jurisdictions previously supported by Kambi, will be subject to the same level of revenue share payments from Penn Entertainment to Kambi through December of 2025.

“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,” the co-founder and Chief Executive Officer for Kambi, Kristian Nylen, said. “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 that Penn Entertainment’s vast retail estate will continue to benefit from throughout the duration of the extended contract.”