Kambi Group plc. and Mohegan Gaming and Entertainment have updated the terms of an agreement made between the two organizations over sports betting in the soon-to-be regulated Connecticut market.
This new agreement allows Mohegan Gaming and Entertainment to work and collaborate with other organizations to launch online or land-based sport betting platforms. The deal makes clear no negative financial impact will be placed on Kambi.
Thus, Kambi will receive its full projected income from the original agreement signed in 2019.
"As we have seen first-hand in Pennsylvania, Kambi provides great product and is therefore one we look forward to potentially collaborating with in new market opportunities." said Aviram Alroy, vice president of Mohegan Digital.
Kristian Nylén, CEO and co-founder of Kambi added: "While we had been looking forward to supporting MGE become a sports betting leader in the Connecticut market, the amicable discussions between both parties have found a positive conclusion, with MGE respecting Kambi's financial interests for the duration of the original agreement."
Separate from the choice to amend this partnership, the two companies are taking part in talks regarding their exclusive sports betting alliance in other territories.
Kambi provides sports betting services to B2C gaming operators, working with over 30 operators including DraftKings, 888 Holdings, Penn National Gaming and Rush Street Interactive. The company is based in Malta but has offices in the UK, Sweden and the United States among others.
Founded in Connecticut, Mohegan Gaming and Entertainment has launched land-based casino properties in Atlantic City and Pennsylvania.
Governor Ned Lamont signed Connecticut’s sports betting bill, HB6451, into law on May 27 this year and it must still receive federal approval and is being reviewed by the Department of the Interior.
