Kambi Group Plc and DraftKings inc. Reach Agreement On DraftKings' Mig…

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 mutual contract relating to the migration phase of DraftKings to its proprietary technology from the Kambi sportsbook platform, which secures Kambi with complete profits until completion of the collaboration and increases the protections for its intellectual residential or commercial property.

The agreement governing the provision of Kambi's world-leading sports wagering innovation and services to DraftKings will end no earlier than 30 September 2021, however, DraftKings is allowed to its proprietary innovation, in full or part, prior to that date.

Based on agreement terms, any sports wagering profits produced by DraftKings prior to 30 September 2021, either by means of Kambi or following a migration far from Kambi, will be subject to the very same level of income share payments from DraftKings to Kambi.

The arrangement likewise sets out a higher balance of responsibilities between Kambi and DraftKings throughout the upcoming shift phase, with the 2 business dedicating to equally support and work together during the migration duration. In addition, the contract reinforces the security of Kambi's data and copyright, while it has been agreed the partnership will not be reached extra jurisdictions beyond January 2021, save where Kambi concurs to the additional service shipment.

This brand-new contract follows DraftKings' acquisition of a technology and sports wagering 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 satisfying for both parties, providing first-rate sports wagering experiences to players throughout more states than any other sportsbook, and establishing Kambi and DraftKings as real leaders in their respective fields. The arrangement we've revealed today works to protect a strong income stream for Kambi for the next 15 months, while our growing and interesting portfolio of partners leaves me without any doubt that Kambi is well put to extend its leadership position over the months and years to come."