Kambi Looking To Expand In Five US States
As we have been reporting there is a frenzy in the US sports betting market with key sportsbook players looking to establish themselves as leaders in this lucrative market. We reported on Kambi’s recent moves to impact the sports betting market with their partnership with DraftKings and Rush Street interactive.
Following these partnerships CEO Kristian Nylén has confirmed that they are working on securing licenses in five US states which is part of their long term strategy for the US.
Nylén was commenting on Kambi’s Q2 performance which saw increased revenues of 25% to €17.6m. He went on to elaborate on the new license applications that include New Jersey and Mississippi, currently. Additional states like New York, Pennsylvania and West Virginia are in the pipeline.
Nylén stated the obvious and said the US is a very “interesting market for Kambi” who are set to embark on a US investor roadshow in an effort to support the company’s growth in the market.
In terms of expectations Nylén believes that by the end of 2019 at least 12 US states will be live with sports betting and beyond that there could be up to 37 states by 2023 who will regulate sports wagering,
The approaches by individual states will differ according to Nylén who believes some will approach the sports betting issue quickly while others will adopt a more conservative and slower approach.