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Kambi Group plc and DraftKings Inc. Reach Agreement on DraftKings' Migration Phase

Jul 23, 2020|News, Sports Betting

Kambi Group plc and DraftKings Inc. have reached a shared agreement relating to the migration phase of DraftKings to its exclusive innovation from the Kambi sportsbook platform, which protects Kambi with full revenue up until completion of the collaboration and increases the defenses for its intellectual property.

The contract governing the provision of Kambi's world-leading sports betting technology and services to DraftKings will end no earlier than 30 September 2021, nevertheless, DraftKings is to utilize its exclusive technology, completely or part, prior to that date.

As per agreement terms, any sports wagering revenue generated by DraftKings prior to 30 September 2021, either by means of Kambi or following a migration away from Kambi, will go through the same level of earnings share payments from DraftKings to Kambi.

The arrangement likewise sets out a higher balance of responsibilities between Kambi and DraftKings during the upcoming shift phase, with the 2 business committing to equally support and cooperate during the migration duration. In addition, the agreement reinforces the security of Kambi's information and intellectual home, while it has actually been agreed the partnership will not be encompassed additional jurisdictions beyond January 2021, save where Kambi accepts the additional service delivery.

This new contract follows DraftKings' acquisition of an innovation and sports wagering service provider in a deal which was completed in Q2 2020.

Kristian Nylén, Kambi CEO, commented: "Since partnering in June 2018, the Kambi-DraftKings relationship has proven to be highly rewarding for both parties, delivering superior sports betting experiences to players throughout more states than any other sportsbook, and establishing Kambi and DraftKings as real leaders in their respective fields. The contract we have actually revealed today works to secure a strong profits stream for Kambi for the next 15 months, while our growing and interesting portfolio of partners leaves me with no doubt that Kambi is well placed to extend its management position over the months and years to come."