Cambi Group's new partnership with the Choctaw Nation
Date: 2024-04-29 Author: Alex Crawford Categories: SPORTS BETTING
Major online sportsbook technology provider, Kambi Group plc, announced a partnership with the Choctaw Nation of Oklahoma, one of the largest Native American nations in the United States.
Transaction details
Under the terms of the agreement, Kambi will provide its advanced technology and services to the Choctaw Nation's sportsbook development in Oklahoma. This includes both online and retail sports betting.
The Choctaw Nation, which operates Choctaw Casinos and Resorts in Oklahoma, operates an extensive network of gaming and lodging establishments, including a flagship casino located near the Texas border.
This partnership is especially significant given that Oklahoma has yet to legalize sports betting, either online or at retail locations. This comes in the context of more than 130 Native American gaming establishments and casinos in the state.
Development prospects
Despite this, Kambi expresses confidence in the prospects for the deal, including the possibility of expanding to other states. This is possible both in the online segment and in retail, subject to regulatory approval.
Statements by the parties
Kambi CEO, Christian Nielen, notes the significance of this partnership and sees its potential to create a leading gaming enterprise. Senior Commerce Executive Director for the Choctaw Nation of Oklahoma, Heidi Grant, also expresses excitement about the collaboration and sees it as an opportunity to strengthen the Choctaw Nation's position in the gaming market.
Potential for legalization
Oklahoma has expressed interest in legalizing sports betting in the past, but legislative initiatives have not yet materialized. However, Gov. Kevin Stitt's recent proposals to legalize betting keep hopes alive.
The deal with the Choctaw Nation comes on the heels of Kambi's recent first-quarter financial results, which, while slightly below last year's numbers, were still in line with the company's expectations.
