Kambi and Penn Entertainment Tuesday announced the extension of the term of their retail sportsbook platform agreement to December 31, 2025. The renewal supersedes a previous agreement set to expire in July 2024.
Per the agreement, Kambi will continue to supply Penn’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 in 13 states across 30 properties.
“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,” said Kambi CEO and Co-founder Kristian Nylén in a statement. “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.”
Over the course of the extension, Penn plans to migrate its retail sportsbooks to its proprietary technology. Any retail sports betting revenue generated by Penn through Kambi’s platform or via PENN’s proprietary sportsbook in jurisdictions previously supported by Kambi will be subject to the same level of revenue share payments from Penn to Kambi through December 2025.
