Kambi, NagaWorld Ink Multi-Year Sports Betting Deal

Sports betting technology provider Kambi Group announced today that it has extended its existing partnership with NagaWorld Ltd., a wholly owned subsidiary of Hong Kong-listed casino operator NagaCorp.

Under the terms of the deal, NagaWorld’s two flagship properties in the capital of Cambodia, Phnom Penh, will benefit from extended live sports event coverage. The long-term renewal of the partnership between NagaWorld and Kambi will also enable the casino operator to reap profit from the provider’s retail sports betting products, including its 16 self-service betting terminals that are featured at NagaWorld’s two casinos.

The casino operator manages the NagaWorld and Naga 2 casino resorts in the Cambodian capital. Its parent company, NagaCorp announced earlier this month that the planned Naga 3 expansion project has recently been approved by the company’s international minority stakeholders.

NagaCorp plans to invest $3.5 billion into the development of four 42-story towers that will feature 4,720 hotel rooms, entertainment facilities, retail space, attractions, dining facilities, residences, convention space and multiple amenities.

The recently extended deal with Kambi further shows NagaWorld’s commitment to expanding and cementing itself as a leading gambling destination in Cambodia. The casino operator’s properties in the Cambodian capital have seen a stable growth of their sports betting offering over the past several years, with those generating a significant portion of the gambling turnover taken in by the properties.

Strengthening Asian Footprint

The recently penned deal will also strengthen Kambi’s footprint in the lucrative Asian sports betting market. The company first entered Asia namely through its original deal with NagaWorld. Kambi announced that it had teamed up with the Cambodian casino operator in 2014.

Back then, the sports betting tech supplier said that it would provide the casino company with a fully managed over-the-counter sportsbook solution.

The agreement with NagaWorld not only represented Kambi’s entry in the Asian sports betting market, but also its first foray as a B2B2 supplier of retail sports gambling solutions.

Of their renewed deal with the Cambodian casino operator Kambi’s Chief Commercial Officer, Max Meltzer, said that they are proud to have extended their agreement and that the move “highlights the positive impact Kambi’s modern and entertaining retail service can have on casino properties.”

Mr. Meltzer added that they look forward to “continuing to enhance NagaWorld’s service offering to its sports betting customers to the benefit of both companies for years to come.”

The extended partnership with NagaWorld follows on Kambi’s recent announcement that it has extended its existing contract with US sports betting operator DraftKings. The two companies first joined forces in June 2018. Under that first deal, Kambi agreed to supply its betting technology to DraftKings in the state of New Jersey

Under the terms of their extended partnership, Kambi has agreed to power DraftKings’ sports gambling operations in eight additional states, with those being Colorado, Indiana, Iowa, Maine, New York, Pennsylvania, Tennessee, and West Virginia. In fact, DraftKings’ Kambi-powered mobile betting app went live in West Virginia mere days ago.

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The post Kambi, NagaWorld Ink Multi-Year Sports Betting Deal appeared first on Casino News Daily.

Original source: https://www.casinonewsdaily.com/2019/08/30/kambi-nagaworld-ink-multi-year-sports-betting-deal/

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