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Kambi & PENN Reach An Agreement

October 12, 2022 3

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Kambi & PENN Reach An Agreement

Kambi Group and PENN Entertainment have just announced that they will begin transitioning from the former sportsbook technology to PENN’s new standalone system. Kambi will receive $12.5 million for early termination while also receiving $15 million for their services in PENN’s transition. The new sportsbook technology is expected to complete its rollout by 2024 with PENN planning to start migration in Q3 of 2023. A quote from PENN’s CEO states, “Kambi has been a topflight supplier to PENN in out digital evolution. Kambi’s well-proven, high-quality technology and services have empowered PENN as we pursued our differentiated sports betting strategy, and I’m pleased to have secured our partnership to ensure a seamless transition for both companies.”

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